{ "documentInfo": { "documentType": "https://xbrl.org/2021/xbrl-json", "features": { "xbrl:canonicalValues": true }, "namespaces": { "ifrs-full": "https://xbrl.ifrs.org/taxonomy/2024-03-27/ifrs-full", "iso4217": "http://www.xbrl.org/2003/iso4217", "scheme": "http://standards.iso.org/iso/17442", "speedyhireplc": "http://speedyhireplc.com/xbrl/2026", "xbrl": "https://xbrl.org/2021", "xbrli": "http://www.xbrl.org/2003/instance" }, "taxonomy": [ "http://speedyhireplc.com/xbrl/2026/213800U78SIYAZDYXM61-2026-03-31.xsd" ] }, "facts": { "fact-1": { "value": "Operating in the Construction Equipment Rental Market (\u2018CERM\u2019), Speedy Hire is the UK\u2019s leading provider of tools, equipment and specialist services to customers in the construction, infrastructure, industrial, utilities and energy sectors. Our c.44,000 customers range from National Tier 1 contractors to regional specialists, and local subcontractors to tradespeople and DIY enthusiasts. Our integrated omni-channel model enables customers to hire via 128 national service centres and customer on-site facilities, central Hire Direct operation and national trading desks, the Speedy Hire website and mobile app. Customers can also access our hire proposition though our strategic partnerships with some of the UK\u2019s leading Trade and Retail brands, and via our recent Commercial Agreement with ProService 1 . Our operations continue through joint ventures with H-Power Plc (previously known as \u2018AFC Energy Plc\u2019) in the UK and Ireland, and Denholm Energy Services in Kazakhstan.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-388": { "value": "UK and Ireland", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-6": { "value": "416100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-7": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-8": { "value": "416100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-9": { "value": "416600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-10": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-11": { "value": "416600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-12": { "value": "185600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-13": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-14": { "value": "185600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-15": { "value": "180500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-16": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-17": { "value": "180500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-18": { "value": "230500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-19": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-20": { "value": "230500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-21": { "value": "236100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-22": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-23": { "value": "236100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-24": { "value": "220800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DistributionAndAdministrativeExpense", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-25": { "value": "17600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DistributionAndAdministrativeExpense", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-26": { "value": "238400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DistributionAndAdministrativeExpense", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-27": { "value": "210500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DistributionAndAdministrativeExpense", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-28": { "value": "9600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DistributionAndAdministrativeExpense", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-29": { "value": "220100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DistributionAndAdministrativeExpense", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-30": { "value": "2100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-31": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-32": { "value": "2100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-33": { "value": "2600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-34": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-35": { "value": "2600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-36": { "value": "-3300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-37": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-38": { "value": "-3300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-39": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-40": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-41": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-42": { "value": "4300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-43": { "value": "-17600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-44": { "value": "-13300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-45": { "value": "23000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-46": { "value": "-9600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-47": { "value": "13400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-48": { "value": "-400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-49": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-50": { "value": "-400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-51": { "value": "1000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-52": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-53": { "value": "1000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-54": { "value": "3900000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:ProfitLossFromOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-55": { "value": "-17600000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:ProfitLossFromOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-56": { "value": "-13700000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:ProfitLossFromOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-57": { "value": "24000000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:ProfitLossFromOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-58": { "value": "-9600000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:ProfitLossFromOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-59": { "value": "14400000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:ProfitLossFromOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-60": { "value": "-18600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncomeCost", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-61": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncomeCost", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-62": { "value": "-18600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncomeCost", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-63": { "value": "-15900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncomeCost", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-64": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncomeCost", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-65": { "value": "-15900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncomeCost", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-66": { "value": "-14700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-67": { "value": "-17600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-68": { "value": "-32300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-69": { "value": "8100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-70": { "value": "-9600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-71": { "value": "-1500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-72": { "value": "-3100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-73": { "value": "-2600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-74": { "value": "-5700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-75": { "value": "2000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-76": { "value": "-2400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-77": { "value": "-400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-78": { "value": "-11600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-79": { "value": "-15000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-80": { "value": "-26600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-81": { "value": "6100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:UnderlyingPerformanceMember", "unit": "iso4217:GBP" } }, "fact-82": { "value": "-7200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "speedyhireplc:ConsolidatedIncomeStatementAxis": "speedyhireplc:NonUnderlyingItemsMember", "unit": "iso4217:GBP" } }, "fact-83": { "value": "-1100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-84": { "value": "-0.0577", "decimals": 4, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-85": { "value": "-0.0024", "decimals": 4, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-86": { "value": "-0.0576", "decimals": 4, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-87": { "value": "-0.0024", "decimals": 4, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-88": { "value": "85400000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustedEBITDA", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-89": { "value": "97100000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustedEBITDA", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-90": { "value": "11900000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustedOperatingProfit", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-91": { "value": "26800000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustedOperatingProfit", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-92": { "value": "-9800000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustedLossProfitBeforeTax", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-93": { "value": "8700000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustedLossProfitBeforeTax", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-94": { "value": "-0.0171", "decimals": 4, "dimensions": { "concept": "speedyhireplc:AdjustedLossEarningsPerShare", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-95": { "value": "0.0141", "decimals": 4, "dimensions": { "concept": "speedyhireplc:AdjustedLossEarningsPerShare", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-96": { "value": "-26600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-97": { "value": "-1100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-98": { "value": "500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxCashFlowHedges", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-99": { "value": "-600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxCashFlowHedges", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-100": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-101": { "value": "-700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-102": { "value": "100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-103": { "value": "-100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-104": { "value": "400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-105": { "value": "-1200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-106": { "value": "-26200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-107": { "value": "-2300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-138": { "value": "56000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IntangibleAssetsAndGoodwill", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-139": { "value": "38400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IntangibleAssetsAndGoodwill", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-140": { "value": "5000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-141": { "value": "5700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-142": { "value": "12700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:LandAndBuildings", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-143": { "value": "15000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:LandAndBuildings", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-144": { "value": "239400000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:HireEquipment", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-145": { "value": "222400000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:HireEquipment", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-146": { "value": "5300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherPropertyPlantAndEquipment", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-147": { "value": "5900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherPropertyPlantAndEquipment", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-148": { "value": "108800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RightofuseAssets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-149": { "value": "104200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RightofuseAssets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-150": { "value": "3800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherNoncurrentFinancialAssets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-151": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherNoncurrentFinancialAssets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-152": { "value": "431000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-153": { "value": "391600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-154": { "value": "10200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-155": { "value": "11200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-156": { "value": "118000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-157": { "value": "105200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-158": { "value": "14400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-159": { "value": "2100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-160": { "value": "900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentTaxAssets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-161": { "value": "2900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentTaxAssets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-162": { "value": "500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialAssets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-163": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialAssets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-164": { "value": "144000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-165": { "value": "121400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-166": { "value": "575000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-167": { "value": "513000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-168": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShorttermBorrowings", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-169": { "value": "2300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShorttermBorrowings", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-170": { "value": "27900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLeaseLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-171": { "value": "25000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLeaseLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-172": { "value": "137600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-173": { "value": "106900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-174": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-175": { "value": "100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-176": { "value": "4000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentProvisions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-177": { "value": "6100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentProvisions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-178": { "value": "169500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-179": { "value": "140400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-108": { "value": "173400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-109": { "value": "112900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-110": { "value": "86500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentLeaseLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-111": { "value": "80900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentLeaseLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-112": { "value": "9300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentProvisions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-113": { "value": "8000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentProvisions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-114": { "value": "8300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-115": { "value": "8600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-116": { "value": "277500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-117": { "value": "210400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-118": { "value": "447000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-119": { "value": "350800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-120": { "value": "128000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NetAssetsLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-121": { "value": "162200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NetAssetsLiabilities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-122": { "value": "25800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IssuedCapital", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-123": { "value": "25800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IssuedCapital", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-124": { "value": "1900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SharePremium", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-125": { "value": "1900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:SharePremium", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-126": { "value": "700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CapitalRedemptionReserve", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-127": { "value": "700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CapitalRedemptionReserve", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-128": { "value": "1000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:MergerReserve", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-129": { "value": "1000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:MergerReserve", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-130": { "value": "100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ReserveOfCashFlowHedges", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-131": { "value": "-400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ReserveOfCashFlowHedges", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-132": { "value": "-2200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-133": { "value": "-2200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-134": { "value": "100700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RetainedEarnings", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-135": { "value": "135400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RetainedEarnings", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-136": { "value": "128000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-137": { "value": "162200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-2": { "value": "The Consolidated Financial Statements on pages 118 to 151 were approved by the Board of Directors on 16 June 2026 and were signed on its behalf by: DAN EVANS Director", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-180": { "value": "25800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-181": { "value": "1900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-182": { "value": "700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-183": { "value": "1000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember", "unit": "iso4217:GBP" } }, "fact-184": { "value": "200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:GBP" } }, "fact-185": { "value": "-1500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-186": { "value": "147600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-187": { "value": "175700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-188": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-189": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-190": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-191": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember", "unit": "iso4217:GBP" } }, "fact-192": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:GBP" } }, "fact-193": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-194": { "value": "-1100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-195": { "value": "-1100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-196": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-197": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-198": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-199": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember", "unit": "iso4217:GBP" } }, "fact-200": { "value": "-600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:GBP" } }, "fact-201": { "value": "-700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-202": { "value": "100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-203": { "value": "-1200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-204": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-205": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-206": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-207": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember", "unit": "iso4217:GBP" } }, "fact-208": { "value": "-600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:GBP" } }, "fact-209": { "value": "-700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-210": { "value": "-1000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-211": { "value": "-2300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-212": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-213": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-214": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-215": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember", "unit": "iso4217:GBP" } }, "fact-216": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:GBP" } }, "fact-217": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-218": { "value": "11800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-219": { "value": "11800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-220": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-221": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-222": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-223": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember", "unit": "iso4217:GBP" } }, "fact-224": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:GBP" } }, "fact-225": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-226": { "value": "600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-227": { "value": "600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-228": { "value": "25800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-229": { "value": "1900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-230": { "value": "700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-231": { "value": "1000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember", "unit": "iso4217:GBP" } }, "fact-232": { "value": "-400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:GBP" } }, "fact-233": { "value": "-2200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-234": { "value": "135400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-235": { "value": "162200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-236": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-237": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-238": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-239": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember", "unit": "iso4217:GBP" } }, "fact-240": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:GBP" } }, "fact-241": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-242": { "value": "-26600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-243": { "value": "-26600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-244": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-245": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-246": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-247": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember", "unit": "iso4217:GBP" } }, "fact-248": { "value": "500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:GBP" } }, "fact-249": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-250": { "value": "-100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-251": { "value": "400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-252": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-253": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-254": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-255": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember", "unit": "iso4217:GBP" } }, "fact-256": { "value": "500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:GBP" } }, "fact-257": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-258": { "value": "-26700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-259": { "value": "-26200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-260": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-261": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-262": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-263": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember", "unit": "iso4217:GBP" } }, "fact-264": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:GBP" } }, "fact-265": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-266": { "value": "9700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-267": { "value": "9700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-268": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-269": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-270": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-271": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember", "unit": "iso4217:GBP" } }, "fact-272": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:GBP" } }, "fact-273": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-274": { "value": "1700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-275": { "value": "1700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-276": { "value": "25800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-277": { "value": "1900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:GBP" } }, "fact-278": { "value": "700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember", "unit": "iso4217:GBP" } }, "fact-279": { "value": "1000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember", "unit": "iso4217:GBP" } }, "fact-280": { "value": "100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:GBP" } }, "fact-281": { "value": "-2200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-282": { "value": "100700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-283": { "value": "128000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-284": { "value": "-32300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-285": { "value": "-1500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-286": { "value": "-18600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForFinanceIncomeCost", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-287": { "value": "-15900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForFinanceIncomeCost", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-288": { "value": "4300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForAmortisationExpense", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-289": { "value": "3800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForAmortisationExpense", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-290": { "value": "72200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationExpense", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-291": { "value": "67600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationExpense", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-292": { "value": "17600000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustmentsForNonUnderlyingItems", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-293": { "value": "9600000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustmentsForNonUnderlyingItems", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-294": { "value": "3300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInFinancialAssetsMeasuredAtFairValueThroughProfitOrLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-295": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInFinancialAssetsMeasuredAtFairValueThroughProfitOrLoss", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-296": { "value": "-400000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustmentsForShareOfLossProfitFromJointVenture", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-297": { "value": "1000000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustmentsForShareOfLossProfitFromJointVenture", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-298": { "value": "100000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustmentsForTerminationOfLeaseContracts", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-299": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustmentsForTerminationOfLeaseContracts", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-300": { "value": "1300000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustmentsForLossOnPlannedDisposalsOfHireEquipment", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-301": { "value": "2700000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustmentsForLossOnPlannedDisposalsOfHireEquipment", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-302": { "value": "3800000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustmentsForProfitOnOtherDisposalsOfHireEquipment", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-303": { "value": "1200000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustmentsForProfitOnOtherDisposalsOfHireEquipment", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-304": { "value": "700000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustmentsForLossOnDisposalOfNonHireEquipment", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-305": { "value": "600000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:AdjustmentsForLossOnDisposalOfNonHireEquipment", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-306": { "value": "1000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-307": { "value": "700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-308": { "value": "-13300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-309": { "value": "-2500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-310": { "value": "18200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-311": { "value": "-1200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-312": { "value": "-2400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForProvisions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-313": { "value": "-2300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForProvisions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-314": { "value": "1700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-315": { "value": "600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-316": { "value": "87400000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:CashGeneratedFromOperationsBeforeChangesInHireFleetAndNonUnderlyingItems", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-317": { "value": "91800000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:CashGeneratedFromOperationsBeforeChangesInHireFleetAndNonUnderlyingItems", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-318": { "value": "45200000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:PurchaseOfHireEquipmentClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-319": { "value": "50000000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:PurchaseOfHireEquipmentClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-320": { "value": "10900000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:ProceedsFromPlannedSaleOfHireEquipmentClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-321": { "value": "3600000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:ProceedsFromPlannedSaleOfHireEquipmentClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-322": { "value": "8700000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:ProceedsFromCustomerLossDamageOfHireEquipmentClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-323": { "value": "9600000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:ProceedsFromCustomerLossDamageOfHireEquipmentClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-324": { "value": "-25600000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:CashOutflowFromChangesInHireFleetClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-325": { "value": "-36800000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:CashOutflowFromChangesInHireFleetClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-326": { "value": "-17600000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:NonUnderlyingItemsClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-327": { "value": "-9600000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:NonUnderlyingItemsClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-328": { "value": "7000000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:IncreaseInNonUnderlyingPayablesClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-329": { "value": "3200000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:IncreaseInNonUnderlyingPayablesClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-330": { "value": "1700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsRelatingToRoyaltiesFeesAndCommissions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-331": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsRelatingToRoyaltiesFeesAndCommissions", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-332": { "value": "-12300000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:CashOutflowFromNonUnderlyingItemsClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-333": { "value": "-6400000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:CashOutflowFromNonUnderlyingItemsClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-334": { "value": "49500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-335": { "value": "48600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperations", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-336": { "value": "16800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-337": { "value": "15800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-338": { "value": "500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-339": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-340": { "value": "-3600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-341": { "value": "-600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-342": { "value": "36800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-343": { "value": "33400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-344": { "value": "3200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-345": { "value": "5700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-346": { "value": "2400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsForDevelopmentProjectExpenditure", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-347": { "value": "2500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsForDevelopmentProjectExpenditure", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-348": { "value": "7100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-349": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-350": { "value": "29700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-351": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-352": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-353": { "value": "600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherCashPaymentsToAcquireInterestsInJointVenturesClassifiedAsInvestingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-354": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-355": { "value": "4200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-356": { "value": "-42400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-357": { "value": "-4600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-358": { "value": "-5600000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:NetCashFlowBeforeFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-359": { "value": "28800000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:NetCashFlowBeforeFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-360": { "value": "29900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-361": { "value": "28600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-362": { "value": "395300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-363": { "value": "534700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-364": { "value": "334200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-365": { "value": "526100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-366": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:ProceedsReceivedUnderAPayablesFinanceArrangementClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-367": { "value": "7200000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:ProceedsReceivedUnderAPayablesFinanceArrangementClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-368": { "value": "2300000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:RepaymentsToAFinancialInstitutionUnderAPayablesFinanceArrangementClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-369": { "value": "4900000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:RepaymentsToAFinancialInstitutionUnderAPayablesFinanceArrangementClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-370": { "value": "1300000.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:RefinancingFeesPaidClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-371": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "speedyhireplc:RefinancingFeesPaidClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-372": { "value": "9700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-373": { "value": "11800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-374": { "value": "17900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-375": { "value": "-29500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-376": { "value": "12300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-377": { "value": "-700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-378": { "value": "2100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-379": { "value": "2800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-380": { "value": "14400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-381": { "value": "2100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-382": { "value": "14400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Cash", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-383": { "value": "2100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Cash", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-384": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:BankOverdraftsClassifiedAsCashEquivalents", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-385": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:BankOverdraftsClassifiedAsCashEquivalents", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-386": { "value": "14400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2026-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-387": { "value": "2100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-392": { "value": "
1 Summary of material accounting policy information
Speedy Hire Plc is a public limited company listed on the London Stock Exchange, incorporated and
domiciled in the United Kingdom (England). The Consolidated Financial Statements of the Company for the
year ended 31 March 2026 comprise the Company and its subsidiaries (together referred to as the \u2018Group\u2019).
The Group and Parent Company Financial Statements were approved by the Board of Directors on
16 June 2026.
The material accounting policies set out below have, unless otherwise stated, been applied consistently
to all periods presented in these Consolidated Financial Statements.
Statement of compliance
Both the Group and Parent Company Financial Statements have been prepared and approved by the
Board of Directors in accordance with UK-adopted international accounting standards (\u2018UK-adopted
IFRS\u2019) and with the requirements of the Companies Act 2006 as applicable to companies reporting
under those standards.
Basis of preparation
These Financial Statements have been prepared under the historical cost convention, with the exception of
derivative financial instruments used for hedging purposes which are measured at fair value through other
comprehensive income and other financial assets measured at fair value through profit and loss.
At 31 March 2026, the Company had net current liabilities of \u00a334.4m (2025: \u00a346.6m), with net assets of
\u00a3150.6m (2025: \u00a3156.2m).
The Directors consider the going concern basis of preparation for the Group and Company to be
appropriate for the following reasons.
At 31 March 2026, the Group had access to a \u00a3150.0m revolving credit facility (\u2018RCF\u2019) maturing in April
2028, with uncommitted extension options for a further two years, and a \u00a375.0m private placement term
loan due to expire in April 2032. These facilities replaced the Group\u2019s previous \u00a3180.0m asset-based
finance facility, which was due to terminate in July 2026. The Group also retains access to an
uncommitted \u00a350.0m accordion available through to April 2028. There are no scheduled repayments
under these facilities before maturity. Cash and facility headroom at 31 March 2026 was \u00a336.0m,
reflecting the availability under the new RCF and the Group\u2019s cash position at the year end.
The Group meets its day-to-day working capital requirements through operating cash flows,
supplemented as necessary by borrowings. The Directors have prepared a going concern assessment
covering a period to June 2027 (\u2018the going concern assessment period\u2019) of at least 12 months from the
date of approval of these Financial Statements. This assessment indicates that, under the base case
forecast, the Group is capable of operating within its existing facilities and meeting the associated
financial covenant requirements. The key assumptions underpinning the projections include expected
improved trading performance in current market conditions and the level of capital investment required
to support those revenue levels.
The Group\u2019s financing facilities include quarterly leverage and fixed charge cover covenant tests. In
preparation for entering into the ProService Transaction, the Group agreed short-term amendments to
the fixed charge cover covenant for the quarters ended 30 September 2025 and 31 December 2025,
after which the covenant reverted to their original level. In addition, further short-term amendments to
both the leverage and fixed charge cover covenants were agreed prior to the year end, in anticipation of
slower deleveraging than originally expected. The covenant tests for quarterly leverage and fixed charge
cover return to their original levels at September 2026 and December 2026 respectively.
In preparing forecasted financial modelling, the Board has also considered a severe but plausible
downside scenario, which reflects reduced levels of revenue compared to the base case budget and
a broadly stable cost base, representing reduced revenue growth compared to prior year. Mitigating
actions available to management in these scenarios include reductions in planned capital expenditure
and restrictions on discretionary overhead growth. Under both the base case and the downside
scenarios, the Group maintains forecast compliance with its financial covenants and has sufficient
liquidity throughout the assessment period.
Notwithstanding the results of the severe but plausible downside scenarios, the Group\u2019s forecasts
remain sensitive to trading performance. A more significant deterioration in market and economic
conditions than those modelled, including sustained underperformance of the business, or the loss or
material reduction or delay of a key customer contract, could adversely impact the Group\u2019s financial
performance and reduce covenant headroom or result in a breach of covenant limits in the near term.
The severe but plausible downside scenario indicates more limited headroom against the Group\u2019s
leverage covenant at the June 2026 and September 2026 test dates. While the Directors have identified
actions available to management which could support covenant compliance, the headroom in these
periods is sensitive to changes in trading performance.
The downside modelling incorporates reductions in revenue and profitability consistent with a material
under-performance of the FY2027 budget and assumes limited mitigating actions. In addition, the
Directors have considered a range of mitigating actions that are within management\u2019s control and could
be implemented should trading performance deteriorate. These include the deferral or reduction of
capital expenditure, active management of working capital, and reductions in discretionary expenditure
and deferment of shareholder distributions.
The Directors have also taken into account the Group\u2019s established and constructive relationships with
its lenders, including the covenant amendments agreed during FY2026.
Having considered the likelihood and potential impact of these risks, together with the availability of
mitigating actions and funding arrangements, the Directors note that while covenant compliance is
maintained in the base case and severe but plausible downside scenarios, there remains a risk that
a more significant deterioration in market and economic conditions than those modelled, including
sustained underperformance of the business, or the loss or material reduction or delay of a key customer
contract, could adversely impact the Group\u2019s financial performance and result in a breach of the
Group\u2019s financial covenant limits in the near term. These conditions indicate the existence of a material
uncertainty that may cast significant doubt on the Group\u2019s and the Company\u2019s ability to continue as a
going concern, specifically in relation to the risk of a breach of financial covenants under the Group\u2019s banking facilities. The Financial Statements do not include the adjustments that would result if the Group and the Company were unable to continue as a going concern. Notwithstanding the material uncertainty described above, the Directors have a reasonable expectation that the Company and the Group have adequate resources to continue in operational existence for a period of at least 12 months from the date of approval of these Financial Statements. Accordingly, the Directors continue to adopt the going concern basis of accounting in preparing the Financial Statements. Basis of consolidation (a) Subsidiaries Subsidiaries are entities controlled by the Company and are detailed in note 32. The Group controls an entity when it is exposed to variable returns and has the ability to use its power to alter its returns from its involvement with the entity. The Financial Statements of subsidiaries are included in the Consolidated Financial Statements from the date that control commences until the date that control ceases. Intra-group balances, and any unrealised gains and losses or income and expenses arising from intra- group transactions, are eliminated in preparing the Consolidated Financial Statements. (b) Joint ventures A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Interests in joint ventures are accounted for using the equity method. They are initially recognised at cost. Subsequent to initial recognition, the Consolidated Financial Statements include the Group\u2019s share of the profit or loss and other comprehensive income of equity-accounted investees, until the date on which significant influence or joint control ceases. New accounting standards and accounting standards not yet effective The following new standards, amendments to standards and interpretations were issued by the International Accounting Standards Board (\u2018IASB\u2019) and became effective during the year:
Effective date
(periods beginning
International Accounting Standards (\u2018IAS\u2019)/IFRS on or after)
Amendments to IAS 21
Lack of Exchangeability
1 January 2025
There is no material impact to the Group from this standard. The following UK-adopted IFRSs have been issued at 31 March 2026 with an effective date of implementation after the date of these Financial Statements but have not been applied by the Group in these Consolidated Financial Statements. The Group has not yet performed an assessment of their impact on the Financial Statements.
Effective date
(periods beginning
International Accounting Standards (\u2018IAS\u2019)/IFRS on or after)
Amendments to IFRS 9 and IFRS 7
Amendments to the Classification
1 January 2026
and Measurement of Financial
Instruments
Annual Improvements to IFRS Accounting
Volume 11
1 January 2026
Standards
Amendments to IFRS 9 and IFRS 7
Contracts Referencing Nature-
1 January 2026
dependent Electricity
IFRS 18
Presentation and Disclosure in
1 January 2027
Financial Statements
IFRS 19
Subsidiaries without Public
1 January 2027
Accountability: Disclosures
Revenue Revenue is accounted for under IFRS 15 and is measured based on the consideration specified in a contract with a customer or a price list, net of returns, trade discounts and volume rebates. Accumulated experience is used to estimate and provide for the rebates, using the expected value method, and revenue is only recognised to the extent that it is highly probable that a significant reversal will not occur. No other variable consideration is present. i. Hire and related activities The Group recognises revenue for hire services, adjusted for rebates, on a straight-line basis as the equipment is available evenly over the period of hire. Revenue is recognised for transport services provided at the point at which delivery or collection is completed. Revenue for repairs to equipment damaged whilst on hire is recognised from the point the damage is identified. ii. Services revenue The Group recognises revenue for rehire services as principal on a straight-line basis over the period of hire, adjusted for rebates. The Group controls the service to be provided to the customer and has responsibility for fulfilling the associated performance obligations. The Group recognises revenue for training services at a point in time upon completion of the relevant training as this is when the performance obligation is fulfilled. Revenue for testing is recognised at a point in time once certification is provided, evidencing fulfilment of the Group\u2019s performance obligation. The Group recognises revenue on the sale of consumables and equipment at a point in time, upon delivery or collection of the goods when control is transferred to the customer. Dependent on the agreement in place, fuel revenue is recognised on either an agent or principal basis at the point control is transferred to the customer. The Group acts as principal when fuel is provided to customers directly from Speedy Hire depots and as agent when fuel provided to customers is not directly controlled by the Group before being provided to the customer. iii. Disposals revenue The Group generates income/proceeds from the disposal of hire equipment either through the planned sale of these assets at the end of their useful economic life or where a customer has lost or damaged the asset beyond repair during the hire contract. These transactions are accounted for differently. Income earned when a customer has lost or damaged assets beyond repair is presented on a net basis within cost of sales at the point in time the loss or damage is identified. No revenue is recognised on these transactions as they do not meet the requirements of IAS 16 (para 68). Income from planned disposals meets the definition in IAS 16 and therefore revenue is recognised gross at a point in time when control of the asset being disposed is transferred to the customer. The key difference between the two types of income is that for planned disposals, the assets are held for sale and are in saleable condition. Cash flows from these two types of transaction are presented separately in the Consolidated Cash Flow Statement. Customer invoicing is performed multiple times a month. Consideration is payable following invoicing, in line with agreed payment terms. Customer rebates Revenue is recognised net of customer rebates, which are held as a separate liability within trade and other payables (see note 18). The Group reviews its estimate of likely settlements at each reporting date and any revisions to the liability are updated accordingly. Non\u2011underlying items Non-underlying items are recognised for items or events of a significant nature or value, where it is determined that separate disclosure aids understanding of the underlying performance of the business. Further detail on such items is provided in note 3. Research and development expenditure Development costs in relation to the Group\u2019s ERP system are capitalised as intangible assets. No significant research and development expenditure is recognised in the Income Statement. Start\u2011up expenses Legal and start-up expenses incurred in respect of new depots are written off as incurred. Employee benefits h Pension schemes The Group automatically enrols UK employees in a defined contribution pension plan and, except for those who opt out, makes contributions to personal pension schemes for these UK employees and certain other non-UK employees. Obligations for contributions to these defined contribution pension plans are recognised as an expense in the Income Statement as incurred. h Share-based payment transactions The Group operates a number of schemes that allow certain employees to acquire shares in the Company, including the Performance Share Plan and the all-employee Sharesave Schemes. The fair value of options granted is recognised as an employee expense with a corresponding increase in equity. The fair value is measured at grant date and spread over the period during which the employees become unconditionally entitled to the options. The fair value of the options granted is measured, using an appropriate option- pricing model, taking into account the terms and conditions upon which the options were granted. The amount recognised as an expense is adjusted to reflect the actual number of share options that vest, except where it is related to market-based performance conditions. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no adjustment for differences between expected and actual outcomes. Transactions of the Company-sponsored Employee Benefits Trust are treated as being those of the Company and are therefore reflected in the Company and Group Financial Statements. In particular, the Trust\u2019s purchases of shares in the Company are charged directly to equity. Finance costs Finance costs comprise interest payable on borrowings and lease liabilities, and gains and losses on financial instruments that are recognised in the Income Statement. Interest payable on borrowings includes a charge in respect of attributable transaction costs and non- utilisation fees, which are recognised in the Income Statement over the period of the borrowings on an effective interest basis. Taxation Income tax is recognised in the Income Statement except to the extent that it relates to items recognised directly in equity, in which case it is recognised in equity. Income tax comprises current and deferred tax. Current tax is the expected tax payable on the taxable income for the year, using tax rates substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Deferred tax is recognised using the balance sheet liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: goodwill not deductible for tax purposes, the initial recognition of assets or liabilities not acquired in a business combination affecting neither accounting nor taxable profit and which at the time of the transaction do not give rise to equal taxable and deductible temporary differences, and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted, or substantively enacted, at the balance sheet date. IAS 12 \u2018Income Taxes\u2019, does not require all temporary differences to be provided for. In particular, the Group does not provide for deferred tax on undistributed earnings of subsidiaries where the Group is able to control the timing of the distribution, and the temporary difference created is not expected to reverse in the foreseeable future. Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assets and liabilities and where the deferred tax balances relate to the same taxation authority. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realised. Intangible assets h Goodwill All business combinations are accounted for by applying acquisition accounting. The Group measures goodwill at the acquisition date as: \u2013 the fair value of the consideration transferred; plus \u2013 the recognised amount of any non-controlling interests in the acquiree; plus \u2013 the fair value of the existing equity interest in the acquiree; less \u2013 the net recognised amount (generally fair value) of the identifiable assets acquired and liabilities assumed. When the excess is negative, a bargain purchase gain is recognised immediately in the Income Statement. Costs related to the acquisition, other than those associated with the issue of debt or equity securities, are expensed as incurred. Any contingent consideration payable is recognised at fair value at the acquisition date. If the contingent consideration is classified as equity it is not remeasured, and settlement is accounted for within equity. Otherwise, subsequent changes to the fair value of the contingent consideration are recognised in the Income Statement. Goodwill is stated after any accumulated impairment losses and is included as an intangible asset. It is allocated to cash-generating units and is tested annually for impairment and at each reporting date to the extent that there are any indicators of impairment. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. h Customer lists, brands and right of first refusal For a number of its acquisitions, the Group has identified intangible assets in respect of customer lists, brands and the right of first refusal over certain customer contracts. The values of these intangibles are recognised as part of the identifiable assets, liabilities and contingent liabilities acquired. Intangible assets, other than goodwill, that are acquired by the Group are initially measured at fair value at the acquisition date. Subsequent to initial recognition, these intangible assets are stated at cost less accumulated amortisation and impairment losses (note 12). Expenditure on internally generated goodwill and brands is recognised in the Income Statement as an expense as incurred. h IT development The Group\u2019s accounting policy in relation to the configuration and customisation costs incurred in implementing Software-as-a-Service (\u2018SaaS\u2019) is as follows: \u2013 Amounts paid to cloud vendors for configuration and customisation that are not distinct from access to the cloud software are expensed over the SaaS contract term. \u2013 Configuration and customisation costs incurred in implementing SaaS arrangements, which give rise to an identifiable intangible asset, are capitalised and amortised over the life of the asset. \u2013 Other implementation costs are expensed as incurred. h Amortisation Amortisation is charged to the Income Statement on a straight-line basis over the estimated useful economic lives of identified intangible assets. Intangible assets, excluding goodwill, are amortised from the date that they are available for use. The useful lives of identified intangible assets are estimated as follows: Customer lists \u2013 over the period of the expected benefit, up to ten years Brands \u2013 over the period of use in the business, up to ten years Right of First Refusal \u2013 over the expected life of the contract, being 6.5 years IT development \u2013 over the period of use in the business, up to ten years Amortisation of intangible assets is included within distribution and administrative costs. Property, plant and equipment Items of property, plant and equipment are stated at cost less accumulated depreciation and impairment losses. Cost includes expenditure that is directly attributable to the acquisition or the refurbishment of the asset where the refurbishment extends the asset\u2019s useful economic life.
Depreciation of property, plant and equipment is charged to the Income Statement so as to write off the
cost of the assets over their estimated useful economic lives after taking account of estimated residual
values. Residual values and estimated useful economic lives are reassessed at least annually. Land is
not depreciated. Hire equipment assets are depreciated so as to write down to their residual value over
their normal useful lives, which range from one to fifteen years depending on the category of the asset.
The principal rates and methods of depreciation used are as follows:
h Hire equipment
Tools and general equipment \u2013 between one and twelve years straight-line
Access equipment \u2013 between five and ten years straight-line
Surveying equipment \u2013 between one and ten years straight-line
Power equipment \u2013 between three and twelve years straight-line
Lifting equipment \u2013 between one and eleven years straight-line
Powered access \u2013 between seven and eleven years straight-line
h Non-hire assets
Freehold buildings and long leasehold improvements \u2013 over the shorter of the lease period and 50
years straight-line
Short leasehold property improvements \u2013 over the period of the lease
Fixtures and fittings and office equipment (excluding IT) \u2013 25% per annum straight-line
IT equipment \u2013 between three and fifteen years straight-line
Motor vehicles \u2013 25% per annum straight-line
Planned disposals of hire equipment are transferred, at net book value, to inventory when they cease to
be available for hire and become held for sale, with the sale included in revenue. Profit or loss on other
disposals is taken to operating profit as shown in note 4, presented net within cost of sales.
Leases
The Group holds leases for a number of properties and vehicles. Rental contracts are typically entered
into for fixed periods of one to ten years but may have break options or extension options as set out
below. Such leases can contain a wide range of different terms and conditions.
Leases are recognised as a right of use asset and a corresponding liability at the date at which the
leased asset is available for use by the Group. Each lease payment is allocated between the liability and
finance cost. The finance cost is charged to the Income Statement over the lease period. The right of use
asset is depreciated over the lease term on a straight-line basis.
Lease liabilities are initially measured on a present value basis. Lease liabilities include the net present value of fixed payments (including in-substance fixed payments) and variable lease payments which are based on a specified index or rate. The lease payments are discounted using the Group\u2019s incremental borrowing rate (if the interest rate implicit in the lease is not readily determinable). This rate is the interest rate the Group would have to pay to borrow the funds necessary to obtain an asset of similar value, over a similar term and with similar security to the right of use asset, in a similar economic environment. Right of use assets are measured at cost comprising the amount of the initial measurement of the lease liability, any initial direct costs, any restoration costs and any lease payments made at, or before, the commencement date. Payments associated with short-term leases and leases of low value assets are recognised on a straight-line basis as an expense in the Income Statement. Short-term leases are certain leases with a lease term of 12 months or less. Low-value assets comprise certain small items of IT equipment and office furniture where the cash value when new is considered immaterial. Extension and termination options are included in a number of leases across the Group. These terms are used to maximise operational flexibility in terms of managing contracts. In determining the lease term applicable for accounting purposes, consideration is given to all facts and circumstances that create economic incentive to exercise an extension option, or not to exercise a termination option. Extension options are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). The assessment is reviewed if a significant event or significant change in circumstances occurs which affects this assessment and is within the control of the Group. Lease remeasurements comprise extensions and rent reviews not known at lease inception. Inventories Inventories are measured at the lower of cost and net realisable value. Assets transferred from the hire fleet are measured at the lower of cost less accumulated depreciation and impairment at the date of transfer, or net realisable value. The cost of inventories is based on the first-in, first-out principle. In the case of work in progress, cost includes an appropriate share of production overheads based on normal operating capacity. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses. Trade and other receivables Trade and other receivables are recognised initially at fair value. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method, less any impairment losses. Cash and cash equivalents Cash and cash equivalents comprise cash balances and overnight deposits. Overdraft facilities are presented as current liabilities on the Balance Sheet. When settling a liability, the Group derecognises the cash and associated liability on the day the payments are made by the Group, as opposed to when the bank itself processes the funds.
Financial instruments
The Group classifies all financial instruments at either amortised cost, fair value through other
comprehensive income (\u2018FVTOCI\u2019) or fair value through profit and loss (\u2018FVTPL\u2019).
Equity instruments not held for long-term strategic purposes are classified at FVTPL, as they do not
form part of the Group\u2019s business model, their cash flows are not solely payments of principal and
interest and they have not been designated at FVTOCI. Financial assets measured at FVTPL are carried
at fair value on the balance sheet, with net changes in fair value recognised in the income statement.
Offset of financial instruments
Financial assets and financial liabilities are offset, and the net amount reported in the Balance Sheet,
when there is a legally enforceable right to offset and there is either the intention to settle on a net basis,
or to realise the asset and settle the liability simultaneously.
The legally enforceable right must not be contingent on future events and must be enforceable in the
normal course of business.
In respect of cash pooling arrangements, the requirement of intent to settle net is only met if the entire
period end balance is settled on a net basis, prior to any further movement in the balance.
Impairments
For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are
separately identifiable cash inflows, which are largely independent of the cash inflows from other assets
or groups of assets (cash-generating units). If any indication of impairment exists, then the asset\u2019s
recoverable amount is estimated, being the higher of fair value less costs to sell and value in use, and
if there is an impairment loss then this loss is recognised such that the carrying amount is reduced
accordingly.
The carrying amounts of the Group\u2019s non-financial assets, other than deferred tax, are reviewed at each
reporting date to determine whether there is any impairment. Non-financial assets other than goodwill
that suffered an impairment are reviewed for possible reversal of the impairment at the end of each
reporting period.
h Expected credit losses
The Group recognises loss allowances for expected credit losses (\u2018ECLs\u2019) on financial assets measured
at amortised cost. Loss allowances for trade receivables are always measured at an amount equal to
lifetime expected credit losses (IFRS 9 simplified approach).
When determining whether the credit risk of a financial asset has increased significantly since initial
recognition and when estimating ECLs, the Group considers reasonable and supportable information
that is relevant and available without undue cost or effort. This includes both quantitative and qualitative
information and analysis, based on the Group\u2019s historical experience and informed credit assessment
and includes forward-looking information.
Lifetime ECLs are ECLs that result from all possible default events over the expected life of a financial
instrument. The maximum period considered when estimating ECLs is the maximum contractual period
over which the Group is exposed to credit risk.
ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present
value of all cash shortfalls (i.e. the difference between the cash flows due to the entity in accordance
with the contract and the cash flows that the Group expects to receive).
Derivative financial instruments
The Group uses derivative financial instruments to hedge its exposure to interest rate risks arising
from financing activities and to variability in cash payments for fuel arising from operating activities. In
accordance with its treasury policy, the Group does not hold or issue derivative financial instruments for
trading purposes; however, derivatives that do not qualify for hedge accounting are accounted for as
trading instruments and the movement in fair value is recognised in the Income Statement.
Derivatives are recognised initially at fair value; attributable transaction costs are recognised in the
Income Statement when incurred. Subsequent to initial recognition, changes in the fair value of the
derivative hedging instrument designated as a cash flow hedge are recognised directly in equity to the
extent that the hedge is effective. To the extent that the hedge is ineffective, changes in fair value are
recognised in the Income Statement.
If the hedging instrument expires, no longer meets the criteria for hedge accounting, is sold, is
terminated or is exercised, then hedge accounting is discontinued prospectively. The cumulative gain
or loss previously recognised in equity remains there until the forecast transaction occurs. When the
hedged item is a non-financial asset, the amount recognised in equity is transferred to the carrying
amount of the asset when it is recognised. In other cases, the amount recognised in equity is transferred
to the Income Statement in the same period that the hedged item affects the Income Statement.
Regular way purchases and sales of financial assets are recognised at the trade date, being the date on
which the Group commits to purchase or sell the asset.
Trade and other payables
Trade and other payables are recognised initially at fair value. Subsequent to initial recognition, they are
measured at amortised cost using the effective interest method.
Intra\u2011group financial instruments
Where the Company enters into financial guarantee contracts to guarantee the indebtedness of other
companies within the Group, the Company accounts for these under IAS 32, IFRS 7 and IFRS 9.
Financial guarantee contracts are initially measured at fair value and subsequently measured at the
higher of fair value and the expected credit loss.
Interest\u2011bearing borrowings
Interest-bearing borrowings are recognised initially at fair value less directly attributable transaction
costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with
any difference between cost and redemption value being recognised in the Income Statement over the
period of the borrowings on an effective interest basis.
Provisions and contingent liabilities
A provision is recognised on the Balance Sheet when the Group has a present legal or constructive
obligation as a result of a past event, the obligation can be measured reliably, and it is probable that an
outflow of economic benefits will be required to settle the obligation. If the effect is material, provisions
are determined by discounting the expected future cash flows at a pre-tax rate that reflects current
market assessments of the time value of money and, where appropriate, the risks specific to the liability.
Dilapidations provisions are recognised by the Group, representing the cost to restore leased premises
to their original condition upon the Group\u2019s exit of a lease. Dilapidations may not be settled for some
months following the Group\u2019s exit of the lease and are calculated based on the estimated expenditure
required to settle the landlord\u2019s claim at current market rates. The total liability is discounted to current
values. Amounts relating to restoration are capitalised as part of the cost of the right of use asset and
are amortised over the shorter of the lease term and the useful life of the asset.
Contingent liabilities are disclosed for possible obligations whose existence will be confirmed by
uncertain future events, or where settlement values cannot be measured reliably.
Translation of foreign currencies
Transactions in foreign currencies are initially recorded at the rate of exchange prevailing at the
transaction date. Monetary assets and liabilities denominated in foreign currencies are retranslated at
the rates of exchange ruling at the balance sheet date. Exchange gains and losses arising on settlement
or retranslation of monetary assets and liabilities are included in the Income Statement.
Assets and liabilities of overseas subsidiaries are translated at the rate of exchange ruling at the balance
sheet date. The results of overseas subsidiary undertakings are translated into sterling at the average
rates of exchange during the period. Exchange differences resulting from the translation of the results
and balances of overseas subsidiaries are charged or credited directly to the foreign currency translation
reserve.
Gains and losses on intercompany foreign currency loans that are long-term in nature, and which the
Company does not intend to settle in the foreseeable future, are also recorded in the foreign currency
translation reserve.
The Consolidated \u2013 and Company only \u2013 Financial Statements are presented in pound sterling, which is
the presentational currency of the Group.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new
shares are shown in equity as a deduction from the proceeds. Where the Group purchases its own
equity share capital, the consideration paid is deducted from equity attributable to the Group\u2019s
shareholders. Where such shares are subsequently cancelled, the nominal value of the shares
repurchased is deducted from share capital and transferred to a capital redemption reserve. Where the
Group purchases its own equity share capital to hold in treasury, the consideration paid for the shares is
shown as a reduction in retained earnings.
Dividend distribution
Dividend distributions to the Company\u2019s shareholders are recognised as a liability in the Group\u2019s
Financial Statements in the period in which the dividends are approved and declared.
Consideration of climate change
Following on from the TCFD disclosures on pages 40 to 50, the impact of climate change on the wider
Financial Statements has been considered. No material impact on financial reporting judgements and
estimates has been identified. In particular, the impact of climate change has been considered in respect
of cash flow forecasts used in the impairment assessments undertaken and the carrying value and
useful economic lives of property, plant and equipment (see the Significant Judgements and Estimates
section for more detail). The Directors are aware of the ever-changing risks resulting from climate
change and will regularly assess these risks against judgements and estimates made in the preparation
of the Group\u2019s financial statements.
Segment reporting
The Group determines and presents operating segments based on the information that is provided
internally to the Board, which is the Group\u2019s \u2018chief operating decision-maker\u2019.
An operating segment is a component of the Group that engages in business activities from which it
may earn revenues and incur expenses, including revenues and expenses that relate to transactions with
any other member of the Group and for which discrete financial information is available. An operating
segment\u2019s operating results are reviewed regularly by the Board to make decisions about resources to
be allocated to the segment and to assess its performance.
Segment results that are reported to the Board include items directly attributable to a segment as well
as those that can be allocated on a reasonable basis. Unallocated items comprise mainly corporate
assets and head office expenses.
Segment capital expenditure is the total cost incurred during the period to acquire property, plant
and equipment, and intangible assets other than goodwill, inclusive of assets acquired in business
combinations.
Significant judgements and estimates
The preparation of Financial Statements requires management to make judgements, estimates and
assumptions in applying the accounting policies that affect the reported amounts of assets and
liabilities, income and expense. The estimates and associated assumptions are based on historical
experience and other factors that are believed to be reasonable under the circumstances, the results of
which form the basis of making the judgements about carrying values of assets and liabilities that are
not readily apparent from other sources. Actual results may differ from these estimates.
The judgements, estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised if the revision affects only that
period, or in the period of the revision and future periods if the revision affects both current and future
periods. The following accounting policies are limited to those items that would be most likely to produce
materially different results were the underlying judgements, estimates and assumptions changed.
The following are significant judgements or sources of estimation uncertainty that management has
made in the process of applying the accounting policies and that have a significant risk of resulting in a
material adjustment within the next financial year.
Key accounting judgements
Non\u2011underlying items
In determining the non-underlying transformation costs recognised in both FY2025 and FY2026,
judgement has been applied in respect of certain costs which do not form part of the underlying
business. The costs relating to transformation were appraised to determine which were entirely
incremental to the programme and would no longer remain in the Group following the conclusion of the
overall project, and which were expected to remain within the Group. The costs that were judged to be
entirely incremental, and therefore non-underlying, were primarily additional headcount into the Group,
to work exclusively on the transformation programme.
More information on the nature and quantum of these costs is provided in note 3.
Dilapidations provision
Dilapidations are assessed at the earliest point, being the start of the lease or due to an obligating
event. Uncertainty is present in respect of the timing and amounts of future cash flows related to lease
dilapidations. The exercise of judgement as to existing facts and circumstances, which may be subject to
change, is required in estimating the provision.
The provision recognised is the estimated expenditure required to settle the landlord\u2019s claim at current
market rates, discounted to net present value. Given the cash outflow in respect of dilapidations can
take place many years in the future, the carrying amount of the provision is reviewed regularly and is
adjusted as needed to take account of changing facts and circumstances.
During the year ended 31 March 2024, the Group engaged an external surveyor to undertake a full review of the property portfolio, to assess the condition of each site and the potential dilapidations costs due on exit. This was the first review of its kind undertaken by the Group, with the aim of aiding management\u2019s determination of the adequacy of the dilapidation provision held by the Group. The surveyor\u2019s review outlined all potential costs payable on the exit of each property, according to the respective lease agreement. The Group then exercised judgement in determining the appropriateness of these potential costs and the expected amounts payable, based on knowledge of the property portfolio, historic settlements and the Group\u2019s proactive approach to resolving dilapidations with landlords. The judgement applied resulted in the removal of certain of these costs from the required provision, primarily relating to contractor and other related fees; on the basis that the Group typically does not incur these costs. At 31 March 2026, as in the prior year, these judgements have been reassessed to ensure they remain appropriate and to take account of subsequent settlements. The provision recognised is based on management\u2019s best estimate of likely settlement and sits within a range of potential outcomes. The calculated provision equates to an expected settlement of \u00a36.10 per square foot (2025: \u00a36.47). If this were to change by \u00a31 per square foot, a \u00a32.2m movement in the provision would result. Management will continue to monitor and assess the adequacy of the provision recognised and the appropriateness of the judgements made. Payables financing arrangement The Group was party to a payables finance arrangement whereby credit from a bank was used to settle supplier invoices, with the Group then settling its balance with the bank at a later date. Under the arrangement, the Group obtained extended payment terms without affecting payments to suppliers and was able to direct the payments the bank made on the Group\u2019s behalf. Given the substantially different terms the Group had with the bank under this arrangement, the supplier trade payable was derecognised once the liability was discharged upon payment, with a new financing liability instead recognised \u2013 representing the amount the Group owed to the bank \u2013 presented as a separate line item within current borrowings. More information on payables financing is provided in note 20. Key accounting estimates Impairment of goodwill In assessing any impairment of goodwill, the future cash flows expected to result from the use of the asset, and its eventual disposal, are estimated. Actual outcomes could vary from such estimates of discounted future cash flows. The calculations involved require assumptions to be made in relation to discount rate, long-term growth rate, the rate of inflation and also short-term performance and cash flows, for which reference is made to external information and historical performance. Note 12 provides details of the impairment reviews undertaken, assumptions and sensitivities in relation to goodwill. Hire equipment In relation to the Group\u2019s hire equipment (note 14), useful economic lives and residual values of assets have been established using historical experience of the internal asset team and external market information, taking into consideration the nature of the assets involved. At 31 March 2026, the carrying value of hire equipment was \u00a3239.4m (2025: \u00a3222.4m), representing 93.0% (2025: 91.4%) of the total property, plant and equipment. The hire equipment depreciation charge for the year ended 31 March 2026 was \u00a335.3m (2025: \u00a330.9m), which represents 8.4% (2025: 7.7%) of the average original cost of hire equipment. Both useful economic lives and residual values are reviewed on a regular basis. Given the varied portfolio and range of assumptions relating to both the useful economic lives and residual values of the Group\u2019s hire equipment, it is not practical to disclose sensitivity analysis. The Group has considered increased interest rates, inflation, and implications of climate change in assessing the carrying value of both eco and non-eco assets and identified no indicators of impairment. The relatively new age of the current hire fleet within the Group mitigates any potential obsolescence and new capital spend is weighted towards eco assets. No indicators of impairment have been noted in relation to hire equipment. Valuation of trade receivables The expected credit loss provision is calculated using the simplified approach under IFRS 9, based upon historical default experience over the lifetime of the debt. This is adjusted for the Directors\u2019 assessment of current and forward-looking macroeconomic factors affecting the Group\u2019s operating environment, such as inflation and interest rates. At 31 March 2026, the expected credit loss provision was \u00a32.2m (2025: \u00a32.0m) against a total debtor book of \u00a3108.7m (2025: \u00a397.9m). Further detail is provided in note 17, including an ageing analysis of debt. The Group\u2019s estimated expected credit losses are 2.0% (2025: 2.0%) of gross trade receivables. A change of 1% in this assumption would result in an increase to the provision of \u00a31.1m (2025: \u00a31.0m). Whilst this area does not meet the definition under IAS 1 of a critical accounting estimate or significant accounting judgement, the recognition and measurement are based on assumptions and/or subject to longer-term uncertainties. No consideration is made regarding expected credit losses across time bands as this would not provide a materially different result given the simplified method is used, whereby assessment of lifetime expected credit losses is made.
Valuation of right of first refusal intangible asset
The ProService Transaction undertaken during the year resulted in the identification of a right of first
refusal intangible (see note 30). The specific earnings potential of the asset, and contribution of other
supporting assets of the Group, form the basis of the valuation of the intangible, taken from Board
approved forecasts. This, alongside key assumptions around the length of the contract and the discount
rate applied, require significant judgement to be exercised. Actual outcomes could therefore vary from
such estimates. Note 30 provides detail on the valuation methodology used, the assumptions applied
and related sensitivities in respect of the valuation of the right of first refusal intangible.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-393": { "value": "Speedy Hire Plc is a public limited company listed on the London Stock Exchange, incorporated and domiciled in the United Kingdom (England). The Consolidated Financial Statements of the Company for the year ended 31 March 2026 comprise the Company and its subsidiaries (together referred to as the \u2018Group\u2019). The Group and Parent Company Financial Statements were approved by the Board of Directors on 16 June 2026. The material accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these Consolidated Financial Statements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-3": { "value": "Speedy Hire Plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-389": { "value": "Speedy Hire Plc", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-4": { "value": "public limited company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-5": { "value": "United Kingdom", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-390": { "value": "United Kingdom", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-394": { "value": "Statement of compliance Both the Group and Parent Company Financial Statements have been prepared and approved by the Board of Directors in accordance with UK-adopted international accounting standards (\u2018UK-adopted IFRS\u2019) and with the requirements of the Companies Act 2006 as applicable to companies reporting under those standards. ", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-395": { "value": "Basis of preparation These Financial Statements have been prepared under the historical cost convention, with the exception of derivative financial instruments used for hedging purposes which are measured at fair value through other comprehensive income and other financial assets measured at fair value through profit and loss. At 31 March 2026, the Company had net current liabilities of \u00a334.4m (2025: \u00a346.6m), with net assets of \u00a3150.6m (2025: \u00a3156.2m). The Directors consider the going concern basis of preparation for the Group and Company to be appropriate for the following reasons. At 31 March 2026, the Group had access to a \u00a3150.0m revolving credit facility (\u2018RCF\u2019) maturing in April 2028, with uncommitted extension options for a further two years, and a \u00a375.0m private placement term loan due to expire in April 2032. These facilities replaced the Group\u2019s previous \u00a3180.0m asset-based finance facility, which was due to terminate in July 2026. The Group also retains access to an uncommitted \u00a350.0m accordion available through to April 2028. There are no scheduled repayments under these facilities before maturity. Cash and facility headroom at 31 March 2026 was \u00a336.0m, reflecting the availability under the new RCF and the Group\u2019s cash position at the year end. The Group meets its day-to-day working capital requirements through operating cash flows, supplemented as necessary by borrowings. The Directors have prepared a going concern assessment covering a period to June 2027 (\u2018the going concern assessment period\u2019) of at least 12 months from the date of approval of these Financial Statements. This assessment indicates that, under the base case forecast, the Group is capable of operating within its existing facilities and meeting the associated financial covenant requirements. The key assumptions underpinning the projections include expected improved trading performance in current market conditions and the level of capital investment required to support those revenue levels. The Group\u2019s financing facilities include quarterly leverage and fixed charge cover covenant tests. In preparation for entering into the ProService Transaction, the Group agreed short-term amendments to the fixed charge cover covenant for the quarters ended 30 September 2025 and 31 December 2025, after which the covenant reverted to their original level. In addition, further short-term amendments to both the leverage and fixed charge cover covenants were agreed prior to the year end, in anticipation of slower deleveraging than originally expected. The covenant tests for quarterly leverage and fixed charge cover return to their original levels at September 2026 and December 2026 respectively. In preparing forecasted financial modelling, the Board has also considered a severe but plausible downside scenario, which reflects reduced levels of revenue compared to the base case budget and a broadly stable cost base, representing reduced revenue growth compared to prior year. Mitigating actions available to management in these scenarios include reductions in planned capital expenditure and restrictions on discretionary overhead growth. Under both the base case and the downside scenarios, the Group maintains forecast compliance with its financial covenants and has sufficient liquidity throughout the assessment period. Notwithstanding the results of the severe but plausible downside scenarios, the Group\u2019s forecasts remain sensitive to trading performance. A more significant deterioration in market and economic conditions than those modelled, including sustained underperformance of the business, or the loss or material reduction or delay of a key customer contract, could adversely impact the Group\u2019s financial performance and reduce covenant headroom or result in a breach of covenant limits in the near term. The severe but plausible downside scenario indicates more limited headroom against the Group\u2019s leverage covenant at the June 2026 and September 2026 test dates. While the Directors have identified actions available to management which could support covenant compliance, the headroom in these periods is sensitive to changes in trading performance. The downside modelling incorporates reductions in revenue and profitability consistent with a material under-performance of the FY2027 budget and assumes limited mitigating actions. In addition, the Directors have considered a range of mitigating actions that are within management\u2019s control and could be implemented should trading performance deteriorate. These include the deferral or reduction of capital expenditure, active management of working capital, and reductions in discretionary expenditure and deferment of shareholder distributions. The Directors have also taken into account the Group\u2019s established and constructive relationships with its lenders, including the covenant amendments agreed during FY2026. Having considered the likelihood and potential impact of these risks, together with the availability of mitigating actions and funding arrangements, the Directors note that while covenant compliance is maintained in the base case and severe but plausible downside scenarios, there remains a risk that a more significant deterioration in market and economic conditions than those modelled, including sustained underperformance of the business, or the loss or material reduction or delay of a key customer contract, could adversely impact the Group\u2019s financial performance and result in a breach of the Group\u2019s financial covenant limits in the near term. These conditions indicate the existence of a material uncertainty that may cast significant doubt on the Group\u2019s and the Company\u2019s ability to continue as a
going concern, specifically in relation to the risk of a breach of financial covenants under the Group\u2019s
banking facilities. The Financial Statements do not include the adjustments that would result if the
Group and the Company were unable to continue as a going concern.
Notwithstanding the material uncertainty described above, the Directors have a reasonable expectation
that the Company and the Group have adequate resources to continue in operational existence for a
period of at least 12 months from the date of approval of these Financial Statements. Accordingly, the
Directors continue to adopt the going concern basis of accounting in preparing the Financial Statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-445": { "value": "The Directors consider the going concern basis of preparation for the Group and Company to be appropriate for the following reasons. At 31 March 2026, the Group had access to a \u00a3150.0m revolving credit facility (\u2018RCF\u2019) maturing in April 2028, with uncommitted extension options for a further two years, and a \u00a375.0m private placement term loan due to expire in April 2032. These facilities replaced the Group\u2019s previous \u00a3180.0m asset-based finance facility, which was due to terminate in July 2026. The Group also retains access to an uncommitted \u00a350.0m accordion available through to April 2028. There are no scheduled repayments under these facilities before maturity. Cash and facility headroom at 31 March 2026 was \u00a336.0m, reflecting the availability under the new RCF and the Group\u2019s cash position at the year end. The Group meets its day-to-day working capital requirements through operating cash flows, supplemented as necessary by borrowings. The Directors have prepared a going concern assessment covering a period to June 2027 (\u2018the going concern assessment period\u2019) of at least 12 months from the date of approval of these Financial Statements. This assessment indicates that, under the base case forecast, the Group is capable of operating within its existing facilities and meeting the associated financial covenant requirements. The key assumptions underpinning the projections include expected improved trading performance in current market conditions and the level of capital investment required to support those revenue levels. The Group\u2019s financing facilities include quarterly leverage and fixed charge cover covenant tests. In preparation for entering into the ProService Transaction, the Group agreed short-term amendments to the fixed charge cover covenant for the quarters ended 30 September 2025 and 31 December 2025, after which the covenant reverted to their original level. In addition, further short-term amendments to both the leverage and fixed charge cover covenants were agreed prior to the year end, in anticipation of slower deleveraging than originally expected. The covenant tests for quarterly leverage and fixed charge cover return to their original levels at September 2026 and December 2026 respectively. In preparing forecasted financial modelling, the Board has also considered a severe but plausible downside scenario, which reflects reduced levels of revenue compared to the base case budget and a broadly stable cost base, representing reduced revenue growth compared to prior year. Mitigating actions available to management in these scenarios include reductions in planned capital expenditure and restrictions on discretionary overhead growth. Under both the base case and the downside scenarios, the Group maintains forecast compliance with its financial covenants and has sufficient liquidity throughout the assessment period. Notwithstanding the results of the severe but plausible downside scenarios, the Group\u2019s forecasts remain sensitive to trading performance. A more significant deterioration in market and economic conditions than those modelled, including sustained underperformance of the business, or the loss or material reduction or delay of a key customer contract, could adversely impact the Group\u2019s financial performance and reduce covenant headroom or result in a breach of covenant limits in the near term. The severe but plausible downside scenario indicates more limited headroom against the Group\u2019s leverage covenant at the June 2026 and September 2026 test dates. While the Directors have identified actions available to management which could support covenant compliance, the headroom in these periods is sensitive to changes in trading performance. The downside modelling incorporates reductions in revenue and profitability consistent with a material under-performance of the FY2027 budget and assumes limited mitigating actions. In addition, the Directors have considered a range of mitigating actions that are within management\u2019s control and could be implemented should trading performance deteriorate. These include the deferral or reduction of capital expenditure, active management of working capital, and reductions in discretionary expenditure and deferment of shareholder distributions. The Directors have also taken into account the Group\u2019s established and constructive relationships with its lenders, including the covenant amendments agreed during FY2026. Having considered the likelihood and potential impact of these risks, together with the availability of mitigating actions and funding arrangements, the Directors note that while covenant compliance is maintained in the base case and severe but plausible downside scenarios, there remains a risk that a more significant deterioration in market and economic conditions than those modelled, including sustained underperformance of the business, or the loss or material reduction or delay of a key customer contract, could adversely impact the Group\u2019s financial performance and result in a breach of the Group\u2019s financial covenant limits in the near term. These conditions indicate the existence of a material uncertainty that may cast significant doubt on the Group\u2019s and the Company\u2019s ability to continue as a going concern, specifically in relation to the risk of a breach of financial covenants under the Group\u2019s banking facilities. The Financial Statements do not include the adjustments that would result if the Group and the Company were unable to continue as a going concern. Notwithstanding the material uncertainty described above, the Directors have a reasonable expectation that the Company and the Group have adequate resources to continue in operational existence for a period of at least 12 months from the date of approval of these Financial Statements. Accordingly, the Directors continue to adopt the going concern basis of accounting in preparing the Financial Statements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-396": { "value": "
Basis of consolidation
(a) Subsidiaries
Subsidiaries are entities controlled by the Company and are detailed in note 32. The Group controls an
entity when it is exposed to variable returns and has the ability to use its power to alter its returns from
its involvement with the entity. The Financial Statements of subsidiaries are included in the Consolidated
Financial Statements from the date that control commences until the date that control ceases.
Intra-group balances, and any unrealised gains and losses or income and expenses arising from intra-
group transactions, are eliminated in preparing the Consolidated Financial Statements.
(b) Joint ventures
A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to
the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities.
Interests in joint ventures are accounted for using the equity method. They are initially recognised at
cost. Subsequent to initial recognition, the Consolidated Financial Statements include the Group\u2019s share
of the profit or loss and other comprehensive income of equity-accounted investees, until the date on
which significant influence or joint control ceases.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-446": { "value": "(a) Subsidiaries Subsidiaries are entities controlled by the Company and are detailed in note 32. The Group controls an entity when it is exposed to variable returns and has the ability to use its power to alter its returns from its involvement with the entity. The Financial Statements of subsidiaries are included in the Consolidated Financial Statements from the date that control commences until the date that control ceases. Intra-group balances, and any unrealised gains and losses or income and expenses arising from intra- group transactions, are eliminated in preparing the Consolidated Financial Statements. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-483": { "value": "(b) Joint ventures A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Interests in joint ventures are accounted for using the equity method. They are initially recognised at cost. Subsequent to initial recognition, the Consolidated Financial Statements include the Group\u2019s share of the profit or loss and other comprehensive income of equity-accounted investees, until the date on which significant influence or joint control ceases. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-447": { "value": "(b) Joint ventures A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Interests in joint ventures are accounted for using the equity method. They are initially recognised at cost. Subsequent to initial recognition, the Consolidated Financial Statements include the Group\u2019s share of the profit or loss and other comprehensive income of equity-accounted investees, until the date on which significant influence or joint control ceases. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-398": { "value": "
New accounting standards and accounting standards not yet effective
The following new standards, amendments to standards and interpretations were issued by the
International Accounting Standards Board (\u2018IASB\u2019) and became effective during the year:
Effective date
(periods beginning
International Accounting Standards (\u2018IAS\u2019)/IFRS on or after)
Amendments to IAS 21
Lack of Exchangeability
1 January 2025
There is no material impact to the Group from this standard.
The following UK-adopted IFRSs have been issued at 31 March 2026 with an effective date of
implementation after the date of these Financial Statements but have not been applied by the Group in
these Consolidated Financial Statements.
The Group has not yet performed an assessment of their impact on the Financial Statements.
Effective date
(periods beginning
International Accounting Standards (\u2018IAS\u2019)/IFRS on or after)
Amendments to IFRS 9 and IFRS 7
Amendments to the Classification
1 January 2026
and Measurement of Financial
Instruments
Annual Improvements to IFRS Accounting
Volume 11
1 January 2026
Standards
Amendments to IFRS 9 and IFRS 7
Contracts Referencing Nature-
1 January 2026
dependent Electricity
IFRS 18
Presentation and Disclosure in
1 January 2027
Financial Statements
IFRS 19
Subsidiaries without Public
1 January 2027
Accountability: Disclosures
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-484": { "value": "New accounting standards and accounting standards not yet effective The following new standards, amendments to standards and interpretations were issued by the International Accounting Standards Board (\u2018IASB\u2019) and became effective during the year:
Effective date
(periods beginning
International Accounting Standards (\u2018IAS\u2019)/IFRS on or after)
Amendments to IAS 21
Lack of Exchangeability
1 January 2025
There is no material impact to the Group from this standard. The following UK-adopted IFRSs have been issued at 31 March 2026 with an effective date of implementation after the date of these Financial Statements but have not been applied by the Group in these Consolidated Financial Statements. The Group has not yet performed an assessment of their impact on the Financial Statements.
Effective date
(periods beginning
International Accounting Standards (\u2018IAS\u2019)/IFRS on or after)
Amendments to IFRS 9 and IFRS 7
Amendments to the Classification
1 January 2026
and Measurement of Financial
Instruments
Annual Improvements to IFRS Accounting
Volume 11
1 January 2026
Standards
Amendments to IFRS 9 and IFRS 7
Contracts Referencing Nature-
1 January 2026
dependent Electricity
IFRS 18
Presentation and Disclosure in
1 January 2027
Financial Statements
IFRS 19
Subsidiaries without Public
1 January 2027
Accountability: Disclosures
", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-448": { "value": "New accounting standards and accounting standards not yet effective The following new standards, amendments to standards and interpretations were issued by the International Accounting Standards Board (\u2018IASB\u2019) and became effective during the year:
Effective date
(periods beginning
International Accounting Standards (\u2018IAS\u2019)/IFRS on or after)
Amendments to IAS 21
Lack of Exchangeability
1 January 2025
There is no material impact to the Group from this standard. The following UK-adopted IFRSs have been issued at 31 March 2026 with an effective date of implementation after the date of these Financial Statements but have not been applied by the Group in these Consolidated Financial Statements. The Group has not yet performed an assessment of their impact on the Financial Statements.
Effective date
(periods beginning
International Accounting Standards (\u2018IAS\u2019)/IFRS on or after)
Amendments to IFRS 9 and IFRS 7
Amendments to the Classification
1 January 2026
and Measurement of Financial
Instruments
Annual Improvements to IFRS Accounting
Volume 11
1 January 2026
Standards
Amendments to IFRS 9 and IFRS 7
Contracts Referencing Nature-
1 January 2026
dependent Electricity
IFRS 18
Presentation and Disclosure in
1 January 2027
Financial Statements
IFRS 19
Subsidiaries without Public
1 January 2027
Accountability: Disclosures
", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-397": { "value": "
Revenue
Revenue is accounted for under IFRS 15 and is measured based on the consideration specified in a
contract with a customer or a price list, net of returns, trade discounts and volume rebates. Accumulated
experience is used to estimate and provide for the rebates, using the expected value method, and
revenue is only recognised to the extent that it is highly probable that a significant reversal will not
occur. No other variable consideration is present.
i. Hire and related activities
The Group recognises revenue for hire services, adjusted for rebates, on a straight-line basis as the
equipment is available evenly over the period of hire. Revenue is recognised for transport services
provided at the point at which delivery or collection is completed. Revenue for repairs to equipment
damaged whilst on hire is recognised from the point the damage is identified.
ii. Services revenue
The Group recognises revenue for rehire services as principal on a straight-line basis over the
period of hire, adjusted for rebates. The Group controls the service to be provided to the customer
and has responsibility for fulfilling the associated performance obligations.
The Group recognises revenue for training services at a point in time upon completion of the relevant
training as this is when the performance obligation is fulfilled. Revenue for testing is recognised
at a point in time once certification is provided, evidencing fulfilment of the Group\u2019s performance
obligation. The Group recognises revenue on the sale of consumables and equipment at a point in
time, upon delivery or collection of the goods when control is transferred to the customer.
Dependent on the agreement in place, fuel revenue is recognised on either an agent or principal
basis at the point control is transferred to the customer. The Group acts as principal when fuel
is provided to customers directly from Speedy Hire depots and as agent when fuel provided to
customers is not directly controlled by the Group before being provided to the customer.
iii. Disposals revenue
The Group generates income/proceeds from the disposal of hire equipment either through the planned
sale of these assets at the end of their useful economic life or where a customer has lost or damaged the
asset beyond repair during the hire contract. These transactions are accounted for differently.
Income earned when a customer has lost or damaged assets beyond repair is presented on a
net basis within cost of sales at the point in time the loss or damage is identified. No revenue is
recognised on these transactions as they do not meet the requirements of IAS 16 (para 68).
Income from planned disposals meets the definition in IAS 16 and therefore revenue is recognised
gross at a point in time when control of the asset being disposed is transferred to the customer. The
key difference between the two types of income is that for planned disposals, the assets are held for
sale and are in saleable condition.
Cash flows from these two types of transaction are presented separately in the Consolidated Cash
Flow Statement.
Customer invoicing is performed multiple times a month. Consideration is payable following invoicing, in
line with agreed payment terms.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-399": { "value": "
Customer rebates
Revenue is recognised net of customer rebates, which are held as a separate liability within trade and
other payables (see note 18). The Group reviews its estimate of likely settlements at each reporting date
and any revisions to the liability are updated accordingly.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscountsAndRebatesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-400": { "value": "
Non\u2011underlying items
Non-underlying items are recognised for items or events of a significant nature or value, where it is
determined that separate disclosure aids understanding of the underlying performance of the business.
Further detail on such items is provided in note 3.
", "dimensions": { "concept": "speedyhireplc:DescriptionOfAccountingPolicyForNonInderlyingItems", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-401": { "value": "
Research and development expenditure
Development costs in relation to the Group\u2019s ERP system are capitalised as intangible assets. No
significant research and development expenditure is recognised in the Income Statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-402": { "value": "
Start\u2011up expenses
Legal and start-up expenses incurred in respect of new depots are written off as incurred.
", "dimensions": { "concept": "speedyhireplc:DescriptionOfAccountingPolicyForStartUpExpenses", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-405": { "value": "
Employee benefits
h Pension schemes
The Group automatically enrols UK employees in a defined contribution pension plan and, except for
those who opt out, makes contributions to personal pension schemes for these UK employees and
certain other non-UK employees. Obligations for contributions to these defined contribution pension
plans are recognised as an expense in the Income Statement as incurred.
h Share-based payment transactions
The Group operates a number of schemes that allow certain employees to acquire shares in the Company,
including the Performance Share Plan and the all-employee Sharesave Schemes. The fair value of options
granted is recognised as an employee expense with a corresponding increase in equity. The fair value is
measured at grant date and spread over the period during which the employees become unconditionally
entitled to the options. The fair value of the options granted is measured, using an appropriate option-
pricing model, taking into account the terms and conditions upon which the options were granted.
The amount recognised as an expense is adjusted to reflect the actual number of share options that vest,
except where it is related to market-based performance conditions. For share-based payment awards with
non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such
conditions and there is no adjustment for differences between expected and actual outcomes.
Transactions of the Company-sponsored Employee Benefits Trust are treated as being those of the
Company and are therefore reflected in the Company and Group Financial Statements. In particular, the
Trust\u2019s purchases of shares in the Company are charged directly to equity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-449": { "value": "h Share-based payment transactions The Group operates a number of schemes that allow certain employees to acquire shares in the Company, including the Performance Share Plan and the all-employee Sharesave Schemes. The fair value of options granted is recognised as an employee expense with a corresponding increase in equity. The fair value is measured at grant date and spread over the period during which the employees become unconditionally entitled to the options. The fair value of the options granted is measured, using an appropriate option- pricing model, taking into account the terms and conditions upon which the options were granted. The amount recognised as an expense is adjusted to reflect the actual number of share options that vest, except where it is related to market-based performance conditions. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no adjustment for differences between expected and actual outcomes. Transactions of the Company-sponsored Employee Benefits Trust are treated as being those of the Company and are therefore reflected in the Company and Group Financial Statements. In particular, the Trust\u2019s purchases of shares in the Company are charged directly to equity. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-403": { "value": "
Finance costs
Finance costs comprise interest payable on borrowings and lease liabilities, and gains and losses on
financial instruments that are recognised in the Income Statement.
Interest payable on borrowings includes a charge in respect of attributable transaction costs and non-
utilisation fees, which are recognised in the Income Statement over the period of the borrowings on an
effective interest basis.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-485": { "value": "Finance costs Finance costs comprise interest payable on borrowings and lease liabilities, and gains and losses on financial instruments that are recognised in the Income Statement. Interest payable on borrowings includes a charge in respect of attributable transaction costs and non- utilisation fees, which are recognised in the Income Statement over the period of the borrowings on an effective interest basis. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-450": { "value": "Finance costs Finance costs comprise interest payable on borrowings and lease liabilities, and gains and losses on financial instruments that are recognised in the Income Statement. Interest payable on borrowings includes a charge in respect of attributable transaction costs and non- utilisation fees, which are recognised in the Income Statement over the period of the borrowings on an effective interest basis. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-404": { "value": "
Taxation
Income tax is recognised in the Income Statement except to the extent that it relates to items recognised
directly in equity, in which case it is recognised in equity. Income tax comprises current and deferred tax.
Current tax is the expected tax payable on the taxable income for the year, using tax rates substantively
enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.
Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset
and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Deferred tax is recognised using the balance sheet liability method, providing for temporary differences
between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts
used for taxation purposes. The following temporary differences are not provided for: goodwill not
deductible for tax purposes, the initial recognition of assets or liabilities not acquired in a business
combination affecting neither accounting nor taxable profit and which at the time of the transaction do not
give rise to equal taxable and deductible temporary differences, and differences relating to investments
in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of
deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted, or substantively enacted, at the balance sheet date. IAS 12 \u2018Income Taxes\u2019, does not require all temporary differences to be provided for. In particular, the Group does not provide for deferred tax on undistributed earnings of subsidiaries where the Group is able to control the timing of the distribution, and the temporary difference created is not expected to reverse in the foreseeable future. Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assets and liabilities and where the deferred tax balances relate to the same taxation authority. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realised. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-451": { "value": "Taxation Income tax is recognised in the Income Statement except to the extent that it relates to items recognised directly in equity, in which case it is recognised in equity. Income tax comprises current and deferred tax. Current tax is the expected tax payable on the taxable income for the year, using tax rates substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Deferred tax is recognised using the balance sheet liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: goodwill not deductible for tax purposes, the initial recognition of assets or liabilities not acquired in a business combination affecting neither accounting nor taxable profit and which at the time of the transaction do not give rise to equal taxable and deductible temporary differences, and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of
deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount
of assets and liabilities, using tax rates enacted, or substantively enacted, at the balance sheet date.
IAS 12 \u2018Income Taxes\u2019, does not require all temporary differences to be provided for. In particular, the
Group does not provide for deferred tax on undistributed earnings of subsidiaries where the Group is
able to control the timing of the distribution, and the temporary difference created is not expected to
reverse in the foreseeable future.
Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax
assets and liabilities and where the deferred tax balances relate to the same taxation authority.
A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be
available against which the asset can be utilised. Deferred tax assets are reviewed at each reporting
date and are reduced to the extent that it is no longer probable that the related tax benefit will be
realised.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-407": { "value": "
Intangible assets
h Goodwill
All business combinations are accounted for by applying acquisition accounting. The Group measures
goodwill at the acquisition date as:
\u2013 the fair value of the consideration transferred; plus
\u2013 the recognised amount of any non-controlling interests in the acquiree; plus
\u2013 the fair value of the existing equity interest in the acquiree; less
\u2013 the net recognised amount (generally fair value) of the identifiable assets acquired and liabilities
assumed.
When the excess is negative, a bargain purchase gain is recognised immediately in the Income Statement.
Costs related to the acquisition, other than those associated with the issue of debt or equity securities,
are expensed as incurred.
Any contingent consideration payable is recognised at fair value at the acquisition date. If the contingent
consideration is classified as equity it is not remeasured, and settlement is accounted for within equity.
Otherwise, subsequent changes to the fair value of the contingent consideration are recognised in the
Income Statement.
Goodwill is stated after any accumulated impairment losses and is included as an intangible asset. It is
allocated to cash-generating units and is tested annually for impairment and at each reporting date to
the extent that there are any indicators of impairment.
Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. h Customer lists, brands and right of first refusal For a number of its acquisitions, the Group has identified intangible assets in respect of customer lists, brands and the right of first refusal over certain customer contracts. The values of these intangibles are recognised as part of the identifiable assets, liabilities and contingent liabilities acquired. Intangible assets, other than goodwill, that are acquired by the Group are initially measured at fair value at the acquisition date. Subsequent to initial recognition, these intangible assets are stated at cost less accumulated amortisation and impairment losses (note 12). Expenditure on internally generated goodwill and brands is recognised in the Income Statement as an expense as incurred. h IT development The Group\u2019s accounting policy in relation to the configuration and customisation costs incurred in implementing Software-as-a-Service (\u2018SaaS\u2019) is as follows: \u2013 Amounts paid to cloud vendors for configuration and customisation that are not distinct from access to the cloud software are expensed over the SaaS contract term. \u2013 Configuration and customisation costs incurred in implementing SaaS arrangements, which give rise to an identifiable intangible asset, are capitalised and amortised over the life of the asset. \u2013 Other implementation costs are expensed as incurred. h Amortisation Amortisation is charged to the Income Statement on a straight-line basis over the estimated useful economic lives of identified intangible assets. Intangible assets, excluding goodwill, are amortised from the date that they are available for use. The useful lives of identified intangible assets are estimated as follows: Customer lists \u2013 over the period of the expected benefit, up to ten years Brands \u2013 over the period of use in the business, up to ten years Right of First Refusal \u2013 over the expected life of the contract, being 6.5 years IT development \u2013 over the period of use in the business, up to ten years Amortisation of intangible assets is included within distribution and administrative costs. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-454": { "value": "h Goodwill All business combinations are accounted for by applying acquisition accounting. The Group measures goodwill at the acquisition date as: \u2013 the fair value of the consideration transferred; plus \u2013 the recognised amount of any non-controlling interests in the acquiree; plus \u2013 the fair value of the existing equity interest in the acquiree; less \u2013 the net recognised amount (generally fair value) of the identifiable assets acquired and liabilities assumed. When the excess is negative, a bargain purchase gain is recognised immediately in the Income Statement. Costs related to the acquisition, other than those associated with the issue of debt or equity securities, are expensed as incurred. Any contingent consideration payable is recognised at fair value at the acquisition date. If the contingent consideration is classified as equity it is not remeasured, and settlement is accounted for within equity. Otherwise, subsequent changes to the fair value of the contingent consideration are recognised in the Income Statement. Goodwill is stated after any accumulated impairment losses and is included as an intangible asset. It is allocated to cash-generating units and is tested annually for impairment and at each reporting date to the extent that there are any indicators of impairment.
Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the
entity sold.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-486": { "value": "h Goodwill All business combinations are accounted for by applying acquisition accounting. The Group measures goodwill at the acquisition date as: \u2013 the fair value of the consideration transferred; plus \u2013 the recognised amount of any non-controlling interests in the acquiree; plus \u2013 the fair value of the existing equity interest in the acquiree; less \u2013 the net recognised amount (generally fair value) of the identifiable assets acquired and liabilities assumed. When the excess is negative, a bargain purchase gain is recognised immediately in the Income Statement. Costs related to the acquisition, other than those associated with the issue of debt or equity securities, are expensed as incurred. Any contingent consideration payable is recognised at fair value at the acquisition date. If the contingent consideration is classified as equity it is not remeasured, and settlement is accounted for within equity. Otherwise, subsequent changes to the fair value of the contingent consideration are recognised in the Income Statement. Goodwill is stated after any accumulated impairment losses and is included as an intangible asset. It is allocated to cash-generating units and is tested annually for impairment and at each reporting date to the extent that there are any indicators of impairment. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-452": { "value": "
h Customer lists, brands and right of first refusal
For a number of its acquisitions, the Group has identified intangible assets in respect of customer lists,
brands and the right of first refusal over certain customer contracts. The values of these intangibles are
recognised as part of the identifiable assets, liabilities and contingent liabilities acquired.
Intangible assets, other than goodwill, that are acquired by the Group are initially measured at fair value
at the acquisition date. Subsequent to initial recognition, these intangible assets are stated at cost less
accumulated amortisation and impairment losses (note 12).
Expenditure on internally generated goodwill and brands is recognised in the Income Statement as an
expense as incurred.
h IT development
The Group\u2019s accounting policy in relation to the configuration and customisation costs incurred in
implementing Software-as-a-Service (\u2018SaaS\u2019) is as follows:
\u2013 Amounts paid to cloud vendors for configuration and customisation that are not distinct from access
to the cloud software are expensed over the SaaS contract term.
\u2013 Configuration and customisation costs incurred in implementing SaaS arrangements, which give
rise to an identifiable intangible asset, are capitalised and amortised over the life of the asset.
\u2013 Other implementation costs are expensed as incurred.
h Amortisation
Amortisation is charged to the Income Statement on a straight-line basis over the estimated useful
economic lives of identified intangible assets. Intangible assets, excluding goodwill, are amortised from the
date that they are available for use. The useful lives of identified intangible assets are estimated as follows:
Customer lists \u2013 over the period of the expected benefit, up to ten years
Brands \u2013 over the period of use in the business, up to ten years
Right of First Refusal \u2013 over the expected life of the contract, being 6.5 years
IT development \u2013 over the period of use in the business, up to ten years
Amortisation of intangible assets is included within distribution and administrative costs.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-406": { "value": "
Property, plant and equipment
Items of property, plant and equipment are stated at cost less accumulated depreciation and impairment
losses. Cost includes expenditure that is directly attributable to the acquisition or the refurbishment of
the asset where the refurbishment extends the asset\u2019s useful economic life.
Depreciation of property, plant and equipment is charged to the Income Statement so as to write off the cost of the assets over their estimated useful economic lives after taking account of estimated residual values. Residual values and estimated useful economic lives are reassessed at least annually. Land is not depreciated. Hire equipment assets are depreciated so as to write down to their residual value over their normal useful lives, which range from one to fifteen years depending on the category of the asset. The principal rates and methods of depreciation used are as follows: h Hire equipment Tools and general equipment \u2013 between one and twelve years straight-line Access equipment \u2013 between five and ten years straight-line Surveying equipment \u2013 between one and ten years straight-line Power equipment \u2013 between three and twelve years straight-line Lifting equipment \u2013 between one and eleven years straight-line Powered access \u2013 between seven and eleven years straight-line h Non-hire assets Freehold buildings and long leasehold improvements \u2013 over the shorter of the lease period and 50 years straight-line Short leasehold property improvements \u2013 over the period of the lease Fixtures and fittings and office equipment (excluding IT) \u2013 25% per annum straight-line IT equipment \u2013 between three and fifteen years straight-line Motor vehicles \u2013 25% per annum straight-line Planned disposals of hire equipment are transferred, at net book value, to inventory when they cease to be available for hire and become held for sale, with the sale included in revenue. Profit or loss on other disposals is taken to operating profit as shown in note 4, presented net within cost of sales. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-453": { "value": "Property, plant and equipment Items of property, plant and equipment are stated at cost less accumulated depreciation and impairment losses. Cost includes expenditure that is directly attributable to the acquisition or the refurbishment of the asset where the refurbishment extends the asset\u2019s useful economic life. Depreciation of property, plant and equipment is charged to the Income Statement so as to write off the cost of the assets over their estimated useful economic lives after taking account of estimated residual values. Residual values and estimated useful economic lives are reassessed at least annually. Land is not depreciated. Hire equipment assets are depreciated so as to write down to their residual value over their normal useful lives, which range from one to fifteen years depending on the category of the asset. The principal rates and methods of depreciation used are as follows: h Hire equipment Tools and general equipment \u2013 between one and twelve years straight-line Access equipment \u2013 between five and ten years straight-line Surveying equipment \u2013 between one and ten years straight-line Power equipment \u2013 between three and twelve years straight-line Lifting equipment \u2013 between one and eleven years straight-line Powered access \u2013 between seven and eleven years straight-line h Non-hire assets Freehold buildings and long leasehold improvements \u2013 over the shorter of the lease period and 50 years straight-line Short leasehold property improvements \u2013 over the period of the lease Fixtures and fittings and office equipment (excluding IT) \u2013 25% per annum straight-line IT equipment \u2013 between three and fifteen years straight-line Motor vehicles \u2013 25% per annum straight-line Planned disposals of hire equipment are transferred, at net book value, to inventory when they cease to be available for hire and become held for sale, with the sale included in revenue. Profit or loss on other disposals is taken to operating profit as shown in note 4, presented net within cost of sales. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-411": { "value": "Leases The Group holds leases for a number of properties and vehicles. Rental contracts are typically entered into for fixed periods of one to ten years but may have break options or extension options as set out below. Such leases can contain a wide range of different terms and conditions. Leases are recognised as a right of use asset and a corresponding liability at the date at which the leased asset is available for use by the Group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to the Income Statement over the lease period. The right of use asset is depreciated over the lease term on a straight-line basis.
Lease liabilities are initially measured on a present value basis. Lease liabilities include the net present
value of fixed payments (including in-substance fixed payments) and variable lease payments which are
based on a specified index or rate. The lease payments are discounted using the Group\u2019s incremental
borrowing rate (if the interest rate implicit in the lease is not readily determinable). This rate is the
interest rate the Group would have to pay to borrow the funds necessary to obtain an asset of similar
value, over a similar term and with similar security to the right of use asset, in a similar economic
environment.
Right of use assets are measured at cost comprising the amount of the initial measurement of the
lease liability, any initial direct costs, any restoration costs and any lease payments made at, or before,
the commencement date. Payments associated with short-term leases and leases of low value assets
are recognised on a straight-line basis as an expense in the Income Statement. Short-term leases are
certain leases with a lease term of 12 months or less. Low-value assets comprise certain small items of
IT equipment and office furniture where the cash value when new is considered immaterial.
Extension and termination options are included in a number of leases across the Group. These terms are
used to maximise operational flexibility in terms of managing contracts. In determining the lease term
applicable for accounting purposes, consideration is given to all facts and circumstances that create
economic incentive to exercise an extension option, or not to exercise a termination option. Extension
options are only included in the lease term if the lease is reasonably certain to be extended (or not
terminated). The assessment is reviewed if a significant event or significant change in circumstances
occurs which affects this assessment and is within the control of the Group. Lease remeasurements
comprise extensions and rent reviews not known at lease inception.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-408": { "value": "
Inventories
Inventories are measured at the lower of cost and net realisable value. Assets transferred from the hire
fleet are measured at the lower of cost less accumulated depreciation and impairment at the date of
transfer, or net realisable value. The cost of inventories is based on the first-in, first-out principle. In the
case of work in progress, cost includes an appropriate share of production overheads based on normal
operating capacity. Net realisable value is the estimated selling price in the ordinary course of business,
less the estimated costs of completion and selling expenses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-409": { "value": "
Trade and other receivables
Trade and other receivables are recognised initially at fair value. Subsequent to initial recognition, they
are measured at amortised cost using the effective interest method, less any impairment losses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-410": { "value": "Cash and cash equivalents Cash and cash equivalents comprise cash balances and overnight deposits. Overdraft facilities are presented as current liabilities on the Balance Sheet. When settling a liability, the Group derecognises the cash and associated liability on the day the payments are made by the Group, as opposed to when the bank itself processes the funds. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-413": { "value": "Financial instruments The Group classifies all financial instruments at either amortised cost, fair value through other comprehensive income (\u2018FVTOCI\u2019) or fair value through profit and loss (\u2018FVTPL\u2019). Equity instruments not held for long-term strategic purposes are classified at FVTPL, as they do not form part of the Group\u2019s business model, their cash flows are not solely payments of principal and interest and they have not been designated at FVTOCI. Financial assets measured at FVTPL are carried at fair value on the balance sheet, with net changes in fair value recognised in the income statement. Offset of financial instruments Financial assets and financial liabilities are offset, and the net amount reported in the Balance Sheet, when there is a legally enforceable right to offset and there is either the intention to settle on a net basis, or to realise the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business. In respect of cash pooling arrangements, the requirement of intent to settle net is only met if the entire period end balance is settled on a net basis, prior to any further movement in the balance. Derivative financial instruments The Group uses derivative financial instruments to hedge its exposure to interest rate risks arising from financing activities and to variability in cash payments for fuel arising from operating activities. In accordance with its treasury policy, the Group does not hold or issue derivative financial instruments for trading purposes; however, derivatives that do not qualify for hedge accounting are accounted for as trading instruments and the movement in fair value is recognised in the Income Statement. Derivatives are recognised initially at fair value; attributable transaction costs are recognised in the Income Statement when incurred. Subsequent to initial recognition, changes in the fair value of the derivative hedging instrument designated as a cash flow hedge are recognised directly in equity to the extent that the hedge is effective. To the extent that the hedge is ineffective, changes in fair value are recognised in the Income Statement. If the hedging instrument expires, no longer meets the criteria for hedge accounting, is sold, is terminated or is exercised, then hedge accounting is discontinued prospectively. The cumulative gain or loss previously recognised in equity remains there until the forecast transaction occurs. When the hedged item is a non-financial asset, the amount recognised in equity is transferred to the carrying amount of the asset when it is recognised. In other cases, the amount recognised in equity is transferred to the Income Statement in the same period that the hedged item affects the Income Statement. Regular way purchases and sales of financial assets are recognised at the trade date, being the date on which the Group commits to purchase or sell the asset. Intra\u2011group financial instruments Where the Company enters into financial guarantee contracts to guarantee the indebtedness of other companies within the Group, the Company accounts for these under IAS 32, IFRS 7 and IFRS 9. Financial guarantee contracts are initially measured at fair value and subsequently measured at the higher of fair value and the expected credit loss. Interest\u2011bearing borrowings Interest-bearing borrowings are recognised initially at fair value less directly attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between cost and redemption value being recognised in the Income Statement over the period of the borrowings on an effective interest basis. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-456": { "value": "Offset of financial instruments Financial assets and financial liabilities are offset, and the net amount reported in the Balance Sheet, when there is a legally enforceable right to offset and there is either the intention to settle on a net basis, or to realise the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business. In respect of cash pooling arrangements, the requirement of intent to settle net is only met if the entire period end balance is settled on a net basis, prior to any further movement in the balance. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-455": { "value": "Impairments For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows, which are largely independent of the cash inflows from other assets or groups of assets (cash-generating units). If any indication of impairment exists, then the asset\u2019s recoverable amount is estimated, being the higher of fair value less costs to sell and value in use, and if there is an impairment loss then this loss is recognised such that the carrying amount is reduced accordingly. The carrying amounts of the Group\u2019s non-financial assets, other than deferred tax, are reviewed at each reporting date to determine whether there is any impairment. Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal of the impairment at the end of each reporting period. h Expected credit losses The Group recognises loss allowances for expected credit losses (\u2018ECLs\u2019) on financial assets measured at amortised cost. Loss allowances for trade receivables are always measured at an amount equal to lifetime expected credit losses (IFRS 9 simplified approach). When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Group\u2019s historical experience and informed credit assessment and includes forward-looking information. Lifetime ECLs are ECLs that result from all possible default events over the expected life of a financial instrument. The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to receive). ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-412": { "value": "Impairments For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows, which are largely independent of the cash inflows from other assets or groups of assets (cash-generating units). If any indication of impairment exists, then the asset\u2019s recoverable amount is estimated, being the higher of fair value less costs to sell and value in use, and if there is an impairment loss then this loss is recognised such that the carrying amount is reduced accordingly. The carrying amounts of the Group\u2019s non-financial assets, other than deferred tax, are reviewed at each reporting date to determine whether there is any impairment. Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal of the impairment at the end of each reporting period. h Expected credit losses The Group recognises loss allowances for expected credit losses (\u2018ECLs\u2019) on financial assets measured at amortised cost. Loss allowances for trade receivables are always measured at an amount equal to lifetime expected credit losses (IFRS 9 simplified approach). When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Group\u2019s historical experience and informed credit assessment and includes forward-looking information. Lifetime ECLs are ECLs that result from all possible default events over the expected life of a financial instrument. The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to receive). ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-505": { "value": "Derivative financial instruments The Group uses derivative financial instruments to hedge its exposure to interest rate risks arising from financing activities and to variability in cash payments for fuel arising from operating activities. In accordance with its treasury policy, the Group does not hold or issue derivative financial instruments for trading purposes; however, derivatives that do not qualify for hedge accounting are accounted for as trading instruments and the movement in fair value is recognised in the Income Statement. Derivatives are recognised initially at fair value; attributable transaction costs are recognised in the Income Statement when incurred. Subsequent to initial recognition, changes in the fair value of the derivative hedging instrument designated as a cash flow hedge are recognised directly in equity to the extent that the hedge is effective. To the extent that the hedge is ineffective, changes in fair value are recognised in the Income Statement. If the hedging instrument expires, no longer meets the criteria for hedge accounting, is sold, is terminated or is exercised, then hedge accounting is discontinued prospectively. The cumulative gain or loss previously recognised in equity remains there until the forecast transaction occurs. When the hedged item is a non-financial asset, the amount recognised in equity is transferred to the carrying amount of the asset when it is recognised. In other cases, the amount recognised in equity is transferred to the Income Statement in the same period that the hedged item affects the Income Statement. Regular way purchases and sales of financial assets are recognised at the trade date, being the date on which the Group commits to purchase or sell the asset. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-487": { "value": "Derivative financial instruments The Group uses derivative financial instruments to hedge its exposure to interest rate risks arising from financing activities and to variability in cash payments for fuel arising from operating activities. In accordance with its treasury policy, the Group does not hold or issue derivative financial instruments for trading purposes; however, derivatives that do not qualify for hedge accounting are accounted for as trading instruments and the movement in fair value is recognised in the Income Statement. Derivatives are recognised initially at fair value; attributable transaction costs are recognised in the Income Statement when incurred. Subsequent to initial recognition, changes in the fair value of the derivative hedging instrument designated as a cash flow hedge are recognised directly in equity to the extent that the hedge is effective. To the extent that the hedge is ineffective, changes in fair value are recognised in the Income Statement. If the hedging instrument expires, no longer meets the criteria for hedge accounting, is sold, is terminated or is exercised, then hedge accounting is discontinued prospectively. The cumulative gain or loss previously recognised in equity remains there until the forecast transaction occurs. When the hedged item is a non-financial asset, the amount recognised in equity is transferred to the carrying amount of the asset when it is recognised. In other cases, the amount recognised in equity is transferred to the Income Statement in the same period that the hedged item affects the Income Statement. Regular way purchases and sales of financial assets are recognised at the trade date, being the date on which the Group commits to purchase or sell the asset. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-457": { "value": "Derivative financial instruments The Group uses derivative financial instruments to hedge its exposure to interest rate risks arising from financing activities and to variability in cash payments for fuel arising from operating activities. In accordance with its treasury policy, the Group does not hold or issue derivative financial instruments for trading purposes; however, derivatives that do not qualify for hedge accounting are accounted for as trading instruments and the movement in fair value is recognised in the Income Statement. Derivatives are recognised initially at fair value; attributable transaction costs are recognised in the Income Statement when incurred. Subsequent to initial recognition, changes in the fair value of the derivative hedging instrument designated as a cash flow hedge are recognised directly in equity to the extent that the hedge is effective. To the extent that the hedge is ineffective, changes in fair value are recognised in the Income Statement. If the hedging instrument expires, no longer meets the criteria for hedge accounting, is sold, is terminated or is exercised, then hedge accounting is discontinued prospectively. The cumulative gain or loss previously recognised in equity remains there until the forecast transaction occurs. When the hedged item is a non-financial asset, the amount recognised in equity is transferred to the carrying amount of the asset when it is recognised. In other cases, the amount recognised in equity is transferred to the Income Statement in the same period that the hedged item affects the Income Statement. Regular way purchases and sales of financial assets are recognised at the trade date, being the date on which the Group commits to purchase or sell the asset. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-414": { "value": "Trade and other payables Trade and other payables are recognised initially at fair value. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-458": { "value": "Intra\u2011group financial instruments Where the Company enters into financial guarantee contracts to guarantee the indebtedness of other companies within the Group, the Company accounts for these under IAS 32, IFRS 7 and IFRS 9. Financial guarantee contracts are initially measured at fair value and subsequently measured at the higher of fair value and the expected credit loss. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-488": { "value": "Interest\u2011bearing borrowings Interest-bearing borrowings are recognised initially at fair value less directly attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between cost and redemption value being recognised in the Income Statement over the period of the borrowings on an effective interest basis. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-459": { "value": "Interest\u2011bearing borrowings Interest-bearing borrowings are recognised initially at fair value less directly attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between cost and redemption value being recognised in the Income Statement over the period of the borrowings on an effective interest basis. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-415": { "value": "Provisions and contingent liabilities A provision is recognised on the Balance Sheet when the Group has a present legal or constructive obligation as a result of a past event, the obligation can be measured reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. If the effect is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. Dilapidations provisions are recognised by the Group, representing the cost to restore leased premises to their original condition upon the Group\u2019s exit of a lease. Dilapidations may not be settled for some months following the Group\u2019s exit of the lease and are calculated based on the estimated expenditure required to settle the landlord\u2019s claim at current market rates. The total liability is discounted to current values. Amounts relating to restoration are capitalised as part of the cost of the right of use asset and are amortised over the shorter of the lease term and the useful life of the asset. Contingent liabilities are disclosed for possible obligations whose existence will be confirmed by uncertain future events, or where settlement values cannot be measured reliably. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-460": { "value": "Provisions and contingent liabilities A provision is recognised on the Balance Sheet when the Group has a present legal or constructive obligation as a result of a past event, the obligation can be measured reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. If the effect is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. Dilapidations provisions are recognised by the Group, representing the cost to restore leased premises to their original condition upon the Group\u2019s exit of a lease. Dilapidations may not be settled for some months following the Group\u2019s exit of the lease and are calculated based on the estimated expenditure required to settle the landlord\u2019s claim at current market rates. The total liability is discounted to current values. Amounts relating to restoration are capitalised as part of the cost of the right of use asset and are amortised over the shorter of the lease term and the useful life of the asset. Contingent liabilities are disclosed for possible obligations whose existence will be confirmed by uncertain future events, or where settlement values cannot be measured reliably. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-489": { "value": "Provisions and contingent liabilities A provision is recognised on the Balance Sheet when the Group has a present legal or constructive obligation as a result of a past event, the obligation can be measured reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. If the effect is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. Dilapidations provisions are recognised by the Group, representing the cost to restore leased premises to their original condition upon the Group\u2019s exit of a lease. Dilapidations may not be settled for some months following the Group\u2019s exit of the lease and are calculated based on the estimated expenditure required to settle the landlord\u2019s claim at current market rates. The total liability is discounted to current values. Amounts relating to restoration are capitalised as part of the cost of the right of use asset and are amortised over the shorter of the lease term and the useful life of the asset. Contingent liabilities are disclosed for possible obligations whose existence will be confirmed by uncertain future events, or where settlement values cannot be measured reliably. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDecommissioningRestorationAndRehabilitationProvisionsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-416": { "value": "Translation of foreign currencies Transactions in foreign currencies are initially recorded at the rate of exchange prevailing at the transaction date. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rates of exchange ruling at the balance sheet date. Exchange gains and losses arising on settlement or retranslation of monetary assets and liabilities are included in the Income Statement. Assets and liabilities of overseas subsidiaries are translated at the rate of exchange ruling at the balance sheet date. The results of overseas subsidiary undertakings are translated into sterling at the average rates of exchange during the period. Exchange differences resulting from the translation of the results and balances of overseas subsidiaries are charged or credited directly to the foreign currency translation reserve. Gains and losses on intercompany foreign currency loans that are long-term in nature, and which the Company does not intend to settle in the foreseeable future, are also recorded in the foreign currency translation reserve. The Consolidated \u2013 and Company only \u2013 Financial Statements are presented in pound sterling, which is the presentational currency of the Group. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-461": { "value": "The Consolidated \u2013 and Company only \u2013 Financial Statements are presented in pound sterling, which is the presentational currency of the Group. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-417": { "value": "Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction from the proceeds. Where the Group purchases its own equity share capital, the consideration paid is deducted from equity attributable to the Group\u2019s shareholders. Where such shares are subsequently cancelled, the nominal value of the shares repurchased is deducted from share capital and transferred to a capital redemption reserve. Where the Group purchases its own equity share capital to hold in treasury, the consideration paid for the shares is shown as a reduction in retained earnings. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-418": { "value": "Dividend distribution Dividend distributions to the Company\u2019s shareholders are recognised as a liability in the Group\u2019s Financial Statements in the period in which the dividends are approved and declared. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-419": { "value": "Consideration of climate change Following on from the TCFD disclosures on pages 40 to 50, the impact of climate change on the wider Financial Statements has been considered. No material impact on financial reporting judgements and estimates has been identified. In particular, the impact of climate change has been considered in respect of cash flow forecasts used in the impairment assessments undertaken and the carrying value and useful economic lives of property, plant and equipment (see the Significant Judgements and Estimates section for more detail). The Directors are aware of the ever-changing risks resulting from climate change and will regularly assess these risks against judgements and estimates made in the preparation of the Group\u2019s financial statements. ", "dimensions": { "concept": "speedyhireplc:DescriptionOfAccountingPolicyForConsiderationOfClimateChange", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-420": { "value": "Segment reporting The Group determines and presents operating segments based on the information that is provided internally to the Board, which is the Group\u2019s \u2018chief operating decision-maker\u2019. An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with any other member of the Group and for which discrete financial information is available. An operating segment\u2019s operating results are reviewed regularly by the Board to make decisions about resources to be allocated to the segment and to assess its performance. Segment results that are reported to the Board include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated items comprise mainly corporate assets and head office expenses. Segment capital expenditure is the total cost incurred during the period to acquire property, plant and equipment, and intangible assets other than goodwill, inclusive of assets acquired in business combinations. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-421": { "value": "Significant judgements and estimates The preparation of Financial Statements requires management to make judgements, estimates and assumptions in applying the accounting policies that affect the reported amounts of assets and liabilities, income and expense. The estimates and associated assumptions are based on historical experience and other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. The judgements, estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The following accounting policies are limited to those items that would be most likely to produce materially different results were the underlying judgements, estimates and assumptions changed. The following are significant judgements or sources of estimation uncertainty that management has made in the process of applying the accounting policies and that have a significant risk of resulting in a material adjustment within the next financial year. Key accounting judgements Non\u2011underlying items In determining the non-underlying transformation costs recognised in both FY2025 and FY2026, judgement has been applied in respect of certain costs which do not form part of the underlying business. The costs relating to transformation were appraised to determine which were entirely incremental to the programme and would no longer remain in the Group following the conclusion of the overall project, and which were expected to remain within the Group. The costs that were judged to be entirely incremental, and therefore non-underlying, were primarily additional headcount into the Group, to work exclusively on the transformation programme. More information on the nature and quantum of these costs is provided in note 3. Dilapidations provision Dilapidations are assessed at the earliest point, being the start of the lease or due to an obligating event. Uncertainty is present in respect of the timing and amounts of future cash flows related to lease dilapidations. The exercise of judgement as to existing facts and circumstances, which may be subject to change, is required in estimating the provision. The provision recognised is the estimated expenditure required to settle the landlord\u2019s claim at current market rates, discounted to net present value. Given the cash outflow in respect of dilapidations can take place many years in the future, the carrying amount of the provision is reviewed regularly and is adjusted as needed to take account of changing facts and circumstances.
During the year ended 31 March 2024, the Group engaged an external surveyor to undertake a full
review of the property portfolio, to assess the condition of each site and the potential dilapidations
costs due on exit. This was the first review of its kind undertaken by the Group, with the aim of aiding
management\u2019s determination of the adequacy of the dilapidation provision held by the Group.
The surveyor\u2019s review outlined all potential costs payable on the exit of each property, according to the
respective lease agreement. The Group then exercised judgement in determining the appropriateness of
these potential costs and the expected amounts payable, based on knowledge of the property portfolio,
historic settlements and the Group\u2019s proactive approach to resolving dilapidations with landlords. The
judgement applied resulted in the removal of certain of these costs from the required provision, primarily
relating to contractor and other related fees; on the basis that the Group typically does not incur these costs.
At 31 March 2026, as in the prior year, these judgements have been reassessed to ensure they remain
appropriate and to take account of subsequent settlements. The provision recognised is based on
management\u2019s best estimate of likely settlement and sits within a range of potential outcomes. The
calculated provision equates to an expected settlement of \u00a36.10 per square foot (2025: \u00a36.47). If this were
to change by \u00a31 per square foot, a \u00a32.2m movement in the provision would result.
Management will continue to monitor and assess the adequacy of the provision recognised and the
appropriateness of the judgements made.
Payables financing arrangement
The Group was party to a payables finance arrangement whereby credit from a bank was used to settle
supplier invoices, with the Group then settling its balance with the bank at a later date.
Under the arrangement, the Group obtained extended payment terms without affecting payments
to suppliers and was able to direct the payments the bank made on the Group\u2019s behalf. Given the
substantially different terms the Group had with the bank under this arrangement, the supplier trade
payable was derecognised once the liability was discharged upon payment, with a new financing
liability instead recognised \u2013 representing the amount the Group owed to the bank \u2013 presented as a
separate line item within current borrowings.
More information on payables financing is provided in note 20.
Key accounting estimates
Impairment of goodwill
In assessing any impairment of goodwill, the future cash flows expected to result from the use of the
asset, and its eventual disposal, are estimated. Actual outcomes could vary from such estimates of
discounted future cash flows. The calculations involved require assumptions to be made in relation to
discount rate, long-term growth rate, the rate of inflation and also short-term performance and cash
flows, for which reference is made to external information and historical performance. Note 12 provides
details of the impairment reviews undertaken, assumptions and sensitivities in relation to goodwill.
Hire equipment
In relation to the Group\u2019s hire equipment (note 14), useful economic lives and residual values of assets
have been established using historical experience of the internal asset team and external market
information, taking into consideration the nature of the assets involved.
At 31 March 2026, the carrying value of hire equipment was \u00a3239.4m (2025: \u00a3222.4m), representing 93.0%
(2025: 91.4%) of the total property, plant and equipment. The hire equipment depreciation charge for the year
ended 31 March 2026 was \u00a335.3m (2025: \u00a330.9m), which represents 8.4% (2025: 7.7%) of the average original
cost of hire equipment. Both useful economic lives and residual values are reviewed on a regular basis.
Given the varied portfolio and range of assumptions relating to both the useful economic lives and
residual values of the Group\u2019s hire equipment, it is not practical to disclose sensitivity analysis.
The Group has considered increased interest rates, inflation, and implications of climate change in
assessing the carrying value of both eco and non-eco assets and identified no indicators of impairment.
The relatively new age of the current hire fleet within the Group mitigates any potential obsolescence
and new capital spend is weighted towards eco assets. No indicators of impairment have been noted in
relation to hire equipment.
Valuation of trade receivables
The expected credit loss provision is calculated using the simplified approach under IFRS 9, based upon
historical default experience over the lifetime of the debt. This is adjusted for the Directors\u2019 assessment
of current and forward-looking macroeconomic factors affecting the Group\u2019s operating environment,
such as inflation and interest rates.
At 31 March 2026, the expected credit loss provision was \u00a32.2m (2025: \u00a32.0m) against a total debtor
book of \u00a3108.7m (2025: \u00a397.9m). Further detail is provided in note 17, including an ageing analysis of
debt. The Group\u2019s estimated expected credit losses are 2.0% (2025: 2.0%) of gross trade receivables. A
change of 1% in this assumption would result in an increase to the provision of \u00a31.1m (2025: \u00a31.0m).
Whilst this area does not meet the definition under IAS 1 of a critical accounting estimate or significant
accounting judgement, the recognition and measurement are based on assumptions and/or subject to
longer-term uncertainties. No consideration is made regarding expected credit losses across time bands
as this would not provide a materially different result given the simplified method is used, whereby
assessment of lifetime expected credit losses is made.
Valuation of right of first refusal intangible asset The ProService Transaction undertaken during the year resulted in the identification of a right of first refusal intangible (see note 30). The specific earnings potential of the asset, and contribution of other supporting assets of the Group, form the basis of the valuation of the intangible, taken from Board approved forecasts. This, alongside key assumptions around the length of the contract and the discount rate applied, require significant judgement to be exercised. Actual outcomes could therefore vary from such estimates. Note 30 provides detail on the valuation methodology used, the assumptions applied and related sensitivities in respect of the valuation of the right of first refusal intangible.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-422": { "value": "
2 Segmental analysis
The segmental disclosure presented in the Financial Statements has been determined based on the way
in which performance is assessed, assets are monitored and resources allocated, and hence reflects the
format of reports reviewed by the \u2018chief operating decision-maker\u2019. The Group\u2019s reportable segments are
Hire and Services, which form the UK and Ireland business.
The Hire segment relates to hire of the Group\u2019s core fleet of owned products, covering a range of
product lines in categories such as small tools, access, power and battery storage, lifting, survey,
powered access, welding and plant machinery.
The Services segment predominantly relates to the rehire of an extensive range of specialist equipment
through partnerships with the industry\u2019s leading suppliers, referred to as Customer Solutions. This
segment also includes fuel and energy sales and management, training, product sales, and test,
inspection and certification services.
An element of the Group\u2019s costs is incurred at a corporate level and consequently cannot be analysed by
segment. These costs, together with net corporate borrowings and taxation, are not directly attributable to the
activities of the operating segments and consequently are presented under Corporate items. The remaining
unallocated net assets comprise principally working capital balances held by the support services function.
For the year ended 31 March 2026 / As at 31 March 2026
Hire excluding UK and Corporate
disposals Services Ireland\u00b9 items Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
255.3
149.9
416.1
\u2013
416.1
Cost of sales
(52.4)
(123.3)
(185.6)
\u2013
(185.6)
Gross Profit
202.9
26.6
230.5
\u2013
230.5
Segment result:
Adjusted EBITDA\u00b2
88.1
(2.7)
85.4
Depreciation\u00b3
(72.1)
(0.1)
(72.2)
Loss on planned disposals of hire equipment
(1.3)
\u2013
(1.3)
Operating profit/(loss) before amortisation,
non-underlying items and fair value
movements on financial assets
14.7
(2.8)
11.9
Amortisation\u00b3
(1.6)
(2.7)
(4.3)
Non-underlying items
(17.6)
\u2013
(17.6)
Fair value movements on financial assets
\u2013
(3.3)
(3.3)
Operating loss
(4.5)
(8.8)
(13.3)
Share of results of joint venture
\u2013
(0.4)
(0.4)
Loss from operations
(4.5)
(9.2)
(13.7)
Finance costs
(18.6)
Loss before tax
(32.3)
Taxation
5.7
Loss for the financial year
(26.6)
Intangible assets\u00b3
46.5
9.5
56.0
Investment in joint ventures
0.6
4.4
5.0
Other financial assets
\u2013
3.8
3.8
Land and buildings
12.7
\u2013
12.7
Hire equipment
239.4
\u2013
239.4
Non-hire equipment
5.3
\u2013
5.3
Right of use assets
108.8
\u2013
108.8
Taxation assets
\u2013
0.9
0.9
Current assets
123.3
5.4
128.7
Cash
\u2013
14.4
14.4
Total assets
536.6
38.4
575.0
Hire excluding UK and Corporate
disposals Services Ireland\u00b9 items Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Lease liabilities
(114.4)
\u2013
(114.4)
Other liabilities
(138.3)
(12.6)
(150.9)
Borrowings
\u2013
(173.4)
(173.4)
Taxation liabilities
\u2013
(8.3)
(8.3)
Total liabilities
(252.7)
(194.3)
(4 4 7.0)
1
UK and Ireland also includes revenue and costs relating to the disposal of hire assets.
2
See note 11.
3
Intangible assets in Corporate items relate to the Group\u2019s ERP system, amortisation is charged to the UK and Ireland
segment as this is fundamental to the trading operations of the Group. Depreciation in Corporate items relates to
computers and is recharged from the UK and Ireland based on proportional usage.
For the year ended 31 March 2025 / As at 31 March 2025
Hire excluding
disposals Services UK and Ireland\u00b9 Corporate items Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
255.0
158.0
416.6
\u2013
416.6
Cost of sales
(49.7)
(126.7)
(180.5)
\u2013
(180.5)
Gross Profit
205.3
31.3
236.1
\u2013
236.1
Segment result:
Adjusted EBITDA\u00b2
101.0
(3.9)
97.1
Depreciation\u00b3
(67.3)
(0.3)
(67.6)
Loss on planned disposals of
hire equipment
(2.7)
\u2013
(2.7)
Operating profit/(loss)
before amortisation and non-
underlying items
31.0
(4.2)
26.8
Amortisation\u00b3
(0.6)
(3.2)
(3.8)
Non-underlying items
(8.0)
(1.6)
(9.6)
Operating profit/(loss)
22.4
(9.0)
13.4
Share of results of joint venture
\u2013
1.0
1.0
Profit/(loss) from operations
22.4
(8.0)
14.4
Finance costs
(15.9)
Loss before tax
(1.5)
Taxation
0.4
Loss for the financial year
(1.1)
Hire excluding
disposals Services UK and Ireland\u00b9 Corporate items Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Intangible assets\u00b3
28.7
9.7
38.4
Investment in joint ventures
0.6
5.1
5.7
Land and buildings
15.0
\u2013
15.0
Hire equipment
222.4
\u2013
222.4
Non-hire equipment
5.9
\u2013
5.9
Right of use assets
104.2
\u2013
104.2
Taxation assets
\u2013
2.9
2.9
Current assets
111.5
4.9
116.4
Cash
\u2013
2 .1
2 .1
Total assets
488.3
24.7
513.0
Lease liabilities
(105.9)
\u2013
(105.9)
Other liabilities
(117.3)
(3.8)
(121.1)
Borrowings
\u2013
(115.2)
(115.2)
Taxation liabilities
\u2013
(8.6)
(8.6)
Total liabilities
(223.2)
(127.6)
(350.8)
1
UK and Ireland also includes revenue and costs relating to the disposal of hire assets.
2
See note 11.
3
Intangible assets in Corporate items relate to the Group\u2019s ERP system, amortisation is charged to the UK and Ireland
segment as this is fundamental to the trading operations of the Group. Depreciation in Corporate items relates to
computers and is recharged from the UK and Ireland based on proportional usage.
Geographical information
In presenting geographical information, revenue is based on the geographical location of customers.
Assets are based on the geographical location of the assets.
Year ended / As at 31 March 2026
Year ended / As at 31 March 2025
Non\u2011current Non\u2011current
Revenue assets\u00b9 Revenue assets\u00b9
\u00a3m \u00a3m \u00a3m \u00a3m
UK
409.6
416.1
410.3
384.0
Ireland
6.5
11.1
6.3
7.6
416.1
42 7. 2
416.6
391.6
1
Non-current assets excluding financial instruments and deferred tax assets.
Revenue by type Revenue is attributed to the following activities:
Year ended Year ended
31 March 2026 31 March 2025
\u00a3m \u00a3m
Hire and related activities
255.3
255.0
Services
149.9
158.0
Disposals
10.9
3.6
416.1
416.6
Major customers No one customer represents more than 10% of revenue, reported profit or combined assets of the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-491": { "value": "Geographical information In presenting geographical information, revenue is based on the geographical location of customers. Assets are based on the geographical location of the assets.
Year ended / As at 31 March 2026
Year ended / As at 31 March 2025
Non\u2011current Non\u2011current
Revenue assets\u00b9 Revenue assets\u00b9
\u00a3m \u00a3m \u00a3m \u00a3m
UK
409.6
416.1
410.3
384.0
Ireland
6.5
11.1
6.3
7.6
416.1
42 7. 2
416.6
391.6
1 Non-current assets excluding financial instruments and deferred tax assets. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGeographicalAreasExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-462": { "value": "Geographical information In presenting geographical information, revenue is based on the geographical location of customers. Assets are based on the geographical location of the assets.
Year ended / As at 31 March 2026
Year ended / As at 31 March 2025
Non\u2011current Non\u2011current
Revenue assets\u00b9 Revenue assets\u00b9
\u00a3m \u00a3m \u00a3m \u00a3m
UK
409.6
416.1
410.3
384.0
Ireland
6.5
11.1
6.3
7.6
416.1
42 7. 2
416.6
391.6
1 Non-current assets excluding financial instruments and deferred tax assets. Revenue by type Revenue is attributed to the following activities:
Year ended Year ended
31 March 2026 31 March 2025
\u00a3m \u00a3m
Hire and related activities
255.3
255.0
Services
149.9
158.0
Disposals
10.9
3.6
416.1
416.6
Major customers No one customer represents more than 10% of revenue, reported profit or combined assets of the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-490": { "value": "
Major customers
No one customer represents more than 10% of revenue, reported profit or combined assets of the Group.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSegmentsMajorCustomersExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-423": { "value": "
3 Non\u2011underlying items
Year ended Year ended
31 March 2026 31 March 2025
\u00a3m \u00a3m
Transformation costs
6.3
6.6
Restructuring costs
3.6
1.2
Business disposal
2.8
\u2013
Other professional and support costs
4.9
1.8
17.6
9.6
Transformation costs
Our Velocity strategy is split into two distinct phases through to 31 March 2028, being \u2018Enabling Growth\u2019
(years one to three) and \u2018Delivering Growth\u2019 (years four to five). Throughout the \u2018Enabling\u2019 phase to
March 2026, the investment in implementing our Velocity strategy and executing our transformation
programme has represented a significant cost to the business.
The total cost (including those incurred in FY2024 and FY2025) of this phase is \u00a320.5m, of which \u00a316.1m
relates to non-underlying items. The remainder of the costs either represent underlying costs to the
business or are capital in nature.
The \u00a36.3m non-underlying cost to the business in the year relates primarily to incremental people
costs. FY2026 is the final year of the \u2018Enabling Growth\u2019 phase, following which transformation costs
will become part of the underlying business, as the Velocity strategy moves into its second phase:
\u2018Delivering Growth\u2019.
Restructuring costs
An additional \u00a33.6m relates to restructuring, as transformation projects have driven an accelerated move
towards the target operating model, mandating certain depot closures and redundancies to align to the
strategic direction of the business.
Business disposal
In August 2025 the Group disposed of the manufacturing division of Lloyds British, generating a loss
on disposal of \u00a32.6m, presented within non-underlying items due to the infrequent nature of such
transactions. Subsequent restructuring of the Lloyds British business followed, resulting in \u00a30.2m of
additional costs.
Other professional and support costs
On 6 October 2025, the Group announced the ProService Transaction (see note 30). Significant legal,
professional and integration costs have been incurred in relation to the transaction, which have been
presented as non-underlying items owing to the scale and rarity of a transaction such as this.
The net cash outflow from activities associated with non-underlying items during the year is \u00a312.3m.
The following non-underlying items occurred in FY2025:
Transformation costs
Of the \u00a36.6m non-underlying cost to the business in FY2025, \u00a35.1m related primarily to incremental
people costs.
The roll out of Velocity process improvements and applications, and the increasing leverage of systems
and data, resulted in the redundancy of some employees in FY2025. Related costs of \u00a31.5m were
therefore presented within non-underlying transformation costs.
Other professional and support costs
In FY2025, the Group engaged with external advisors regarding the refinancing of the Group. Whilst
the Group entered into the new arrangements post year end, replacing the asset based lending (\u2018ABL\u2019)
facility, related advisory services were provided, and work undertaken, in FY2025.
Legal and professional fees incurred as part of the refinancing could not be attributed directly to the
new facilities, as they \u2013 in part \u2013 related to the settlement of the old facility. Hence these costs were
recorded through the Income Statement rather than being capitalised against the new facility.
The remaining fees capitalised in relation to the ABL facility were also written off at 31 March 2025, given
the refinancing was substantially complete as at 31 March 2025, with an expectation of completion soon
after the year end.
Restructuring costs
In FY2025, following the autumn budget, a decision was taken to accelerate \u2018Future State\u2019 restructuring
plans that formed part of the operational model changes in the Velocity strategy. The acceleration of the
plan was, in part, to offset the announced increases in both the national minimum wage and employer
national insurance contributions. Such restructuring entailed the closure of eight depots, with a resulting
reduction in headcount. Restructuring of this scale is not part of the ordinary course of business and
hence was presented within non-underlying items.
The net cash outflow from activities associated with non-underlying items during FY2025 was \u00a36.4m.
", "dimensions": { "concept": "speedyhireplc:DisclosureOfNonUnderlyingItems", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-424": { "value": "
4 Operating profit/(loss)
Operating profit/(loss) is stated after charging/(crediting):
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Amortisation of intangible assets
\u2013 acquired
1.6
0.6
\u2013 internally generated
2.7
3.2
Depreciation of owned property, plant and equipment
40.8
37.6
Depreciation of right of use assets
31.4
30.0
Loss on planned disposals of hire equipment
1.3
2.7
Profit on other disposals of hire equipment
(3.8)
(1.2)
Loss on disposal of non-hire equipment
0.7
0.6
Auditors\u2019 remuneration
\u2013 audit of these Financial Statements
0.7
0.8
\u2013 audit of Financial Statements of subsidiaries
0.1
0.1
Total audit fees
0.8
0.9
Non-audit fees: audit-related services \u2212 interim review fee of \u00a386,943
(2025: \u00a385,500)
0.1
0.1
Total fees
0.9
1.0
Within distribution and administrative costs, \u00a334.3m relates to distribution (2025: \u00a333.5m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-512": { "value": "4 Operating profit/(loss) Operating profit/(loss) is stated after charging/(crediting):
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Amortisation of intangible assets
\u2013 acquired
1.6
0.6
\u2013 internally generated
2.7
3.2
Depreciation of owned property, plant and equipment
40.8
37.6
Depreciation of right of use assets
31.4
30.0
Loss on planned disposals of hire equipment
1.3
2.7
Profit on other disposals of hire equipment
(3.8)
(1.2)
Loss on disposal of non-hire equipment
0.7
0.6
Auditors\u2019 remuneration
\u2013 audit of these Financial Statements
0.7
0.8
\u2013 audit of Financial Statements of subsidiaries
0.1
0.1
Total audit fees
0.8
0.9
Non-audit fees: audit-related services \u2212 interim review fee of \u00a386,943
(2025: \u00a385,500)
0.1
0.1
Total fees
0.9
1.0
Within distribution and administrative costs, \u00a334.3m relates to distribution (2025: \u00a333.5m). ", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-506": { "value": "4 Operating profit/(loss) Operating profit/(loss) is stated after charging/(crediting):
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Amortisation of intangible assets
\u2013 acquired
1.6
0.6
\u2013 internally generated
2.7
3.2
Depreciation of owned property, plant and equipment
40.8
37.6
Depreciation of right of use assets
31.4
30.0
Loss on planned disposals of hire equipment
1.3
2.7
Profit on other disposals of hire equipment
(3.8)
(1.2)
Loss on disposal of non-hire equipment
0.7
0.6
Auditors\u2019 remuneration
\u2013 audit of these Financial Statements
0.7
0.8
\u2013 audit of Financial Statements of subsidiaries
0.1
0.1
Total audit fees
0.8
0.9
Non-audit fees: audit-related services \u2212 interim review fee of \u00a386,943
(2025: \u00a385,500)
0.1
0.1
Total fees
0.9
1.0
Within distribution and administrative costs, \u00a334.3m relates to distribution (2025: \u00a333.5m).
Land and Hire
buildings equipment Other Total
\u00a3m \u00a3m \u00a3m \u00a3m
Cost
At 1 April 2024
58.2
386.0
28.2
472.4
Foreign exchange
\u2013
(0.5)
\u2013
(0.5)
Additions
4.9
57.5
0.8
63.2
Disposals
(2.1)
(19.9)
(1.3)
(23.3)
Transfers to inventory
\u2013
(21.6)
\u2013
(21.6)
At 31 March 2025
61.0
401.5
2 7.7
490.2
Foreign exchange
\u2013
0.2
\u2013
0.2
Additions
2.0
53.0
1.3
56.3
Acquisitions
1
\u2013
16.8
\u2013
16.8
Disposals
(2.3)
(15.3)
(0.4)
(18.0)
Transfers to inventory
\u2013
(33.7)
\u2013
(33.7)
At 31 March 2026
60.7
422.5
28.6
511.8
Accumulated depreciation
At 1 April 2024
43.7
175.4
20.2
239.3
Foreign exchange
\u2013
(0.4)
\u2013
(0.4)
Charged in year
4.1
30.9
2.6
37.6
Disposals
(1.8)
(11.5)
(1.0)
(14.3)
Transfers to inventory
\u2013
(15.3)
\u2013
(15.3)
At 31 March 2025
46.0
179.1
21.8
246.9
Foreign exchange
\u2013
0.2
\u2013
0.2
Charged in year
3.7
35.3
1.8
40.8
Disposals
(1.7)
(8.0)
(0.3)
(10.0)
Transfers to inventory
\u2013
(23.5)
\u2013
(23.5)
At 31 March 2026
48.0
183.1
23.3
254.4
Net book value
At 31 March 2026
12.7
239.4
5.3
25 7.4
At 31 March 2025
15.0
222.4
5.9
243.3
At 31 March 2024
14.5
210.6
8.0
233.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-492": { "value": "4 Operating profit/(loss) Operating profit/(loss) is stated after charging/(crediting):
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Amortisation of intangible assets
\u2013 acquired
1.6
0.6
\u2013 internally generated
2.7
3.2
Depreciation of owned property, plant and equipment
40.8
37.6
Depreciation of right of use assets
31.4
30.0
Loss on planned disposals of hire equipment
1.3
2.7
Profit on other disposals of hire equipment
(3.8)
(1.2)
Loss on disposal of non-hire equipment
0.7
0.6
Auditors\u2019 remuneration
\u2013 audit of these Financial Statements
0.7
0.8
\u2013 audit of Financial Statements of subsidiaries
0.1
0.1
Total audit fees
0.8
0.9
Non-audit fees: audit-related services \u2212 interim review fee of \u00a386,943
(2025: \u00a385,500)
0.1
0.1
Total fees
0.9
1.0
Within distribution and administrative costs, \u00a334.3m relates to distribution (2025: \u00a333.5m). ", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-463": { "value": "4 Operating profit/(loss) Operating profit/(loss) is stated after charging/(crediting):
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Amortisation of intangible assets
\u2013 acquired
1.6
0.6
\u2013 internally generated
2.7
3.2
Depreciation of owned property, plant and equipment
40.8
37.6
Depreciation of right of use assets
31.4
30.0
Loss on planned disposals of hire equipment
1.3
2.7
Profit on other disposals of hire equipment
(3.8)
(1.2)
Loss on disposal of non-hire equipment
0.7
0.6
Auditors\u2019 remuneration
\u2013 audit of these Financial Statements
0.7
0.8
\u2013 audit of Financial Statements of subsidiaries
0.1
0.1
Total audit fees
0.8
0.9
Non-audit fees: audit-related services \u2212 interim review fee of \u00a386,943
(2025: \u00a385,500)
0.1
0.1
Total fees
0.9
1.0
Within distribution and administrative costs, \u00a334.3m relates to distribution (2025: \u00a333.5m). ", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-427": { "value": "
5 Employees
The monthly average number of people employed by the Group (including Directors) during the year
was as follows:
Year ended Year ended
31 March 31 March
2026 2025
UK and Ireland
2,989
2,993
Central
329
342
3,318
3,335
The aggregate payroll costs of these employees (including bonuses) were as follows:
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Wages and salaries
120.4
120.1
Social security costs
14.9
11.7
Other pension costs
3.6
3.5
Share-based payments
1.8
0.9
140.7
136.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-465": { "value": "
6 Directors\u2019 remuneration
Year ended Year ended
31 March 31 March
2026 2025
\u00a3\u2019000s \u00a3\u2019000s
Directors\u2019 emoluments
Basic remuneration, including benefits
1,296
1,296
Company contributions to money purchase pension schemes
26
23
1,322
1,319
Emolument of the highest paid Director
Basic remuneration, including benefits
512
502
Company pension contributions
15
15
527
517
The number of Directors in respect of whose qualifying services shares were received or receivable
under long-term incentive schemes, and who exercised share options during the year, is disclosed on
page 100 of the Directors\u2019 Remuneration Report.
Further analysis of Directors\u2019 remuneration can be found in the Remuneration Report. All the Directors\u2019
remuneration is paid by Speedy Support Services Limited, a wholly owned subsidiary of Speedy
Hire Plc.
Key management remuneration The Group\u2019s key management personnel are the Executive and Non-Executive Directors as identified in the Directors\u2019 Remuneration Report, the remuneration of whom is disclosed in note 6. In addition to salaries and pension payments, the Group also provides non-cash benefits to Executive Directors. Executive Directors also participate in the Group\u2019s share option schemes. Non-Executive Directors receive a fee for their services to Speedy Hire Plc. Full details of Executive and Non-Executive Director compensation and interests in the share capital of the Company as at 31 March 2026 are given in the Directors\u2019 Remuneration Report.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-425": { "value": "
7 Finance costs
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Interest on bank loans and overdrafts
11.1
9.1
Amortisation of issue costs
0.3
0.4
Total interest on borrowings
11.4
9.5
Interest on lease liabilities
7.5
6.4
Other finance income
(0.3)
\u2013
Finance costs
18.6
15.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-515": { "value": "7 Finance costs
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Interest on bank loans and overdrafts
11.1
9.1
Amortisation of issue costs
0.3
0.4
Total interest on borrowings
11.4
9.5
Interest on lease liabilities
7.5
6.4
Other finance income
(0.3)
\u2013
Finance costs
18.6
15.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-513": { "value": "7 Finance costs
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Interest on bank loans and overdrafts
11.1
9.1
Amortisation of issue costs
0.3
0.4
Total interest on borrowings
11.4
9.5
Interest on lease liabilities
7.5
6.4
Other finance income
(0.3)
\u2013
Finance costs
18.6
15.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-464": { "value": "7 Finance costs
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Interest on bank loans and overdrafts
11.1
9.1
Amortisation of issue costs
0.3
0.4
Total interest on borrowings
11.4
9.5
Interest on lease liabilities
7.5
6.4
Other finance income
(0.3)
\u2013
Finance costs
18.6
15.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-507": { "value": "7 Finance costs
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Interest on bank loans and overdrafts
11.1
9.1
Amortisation of issue costs
0.3
0.4
Total interest on borrowings
11.4
9.5
Interest on lease liabilities
7.5
6.4
Other finance income
(0.3)
\u2013
Finance costs
18.6
15.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-493": { "value": "7 Finance costs
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Interest on bank loans and overdrafts
11.1
9.1
Amortisation of issue costs
0.3
0.4
Total interest on borrowings
11.4
9.5
Interest on lease liabilities
7.5
6.4
Other finance income
(0.3)
\u2013
Finance costs
18.6
15.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-426": { "value": "
8 Taxation
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m
\u00a3m
Tax credited in the Income Statement from continuing operations
Current tax
UK corporation tax on loss at 25% (2025: 25%)
\u2013
(0.4)
Adjustment in respect of prior years
(1.0)
0.1
Total current tax
(1.0)
(0.3)
Deferred tax
UK deferred tax at 25% (2025: 25%)
(5.5)
0.3
Adjustment in respect of prior years
0.8
(0.4)
Total deferred tax
(4.7)
(0.1)
Total tax credit from continuing operations
(5.7)
(0.4)
Tax charged/(credited) in other comprehensive income
Deferred tax on effective portion of changes in fair value of cash
flow hedges
0.1
(0.1)
The tax credit in the Income Statement for the year of 17.6% (2025: 26.7%) is lower (2025: higher) than
the standard rate of corporation tax in the UK and is explained as follows:
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Loss before tax
(32.3)
(1.5)
Accounting loss multiplied by the standard rate of corporation tax at 25%
(2025: 25%)
(8.1)
(0.4)
Expenses not deductible for tax purposes
2.1
0.4
Share-based payments
0.4
0.1
Share of joint venture income already taxed
0.1
(0.2)
Adjustment in respect of prior years
(0.2)
(0.3)
Tax credit for the year reported in the Income Statement
(5.7)
(0.4)
The adjusted effective tax rate of 18.4% (2025: 24.1%) is lower (2025: lower) than the standard rate of UK
corporation tax of 25% (2025: 25%).
23 Deferred tax
Property, plant Intangible Share\u2011based
and equipment assets payments Other items Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 April 2024
8.5
1.0
\u2013
(0.8)
8.7
Recognised in the year
1.6
(0.8)
\u2013
(0.9)
(0.1)
At 31 March 2025
10.1
0.2
\u2013
(1.7)
8.6
Recognised in the year
1.5
(0.6)
\u2013
(5.6)
(4.7)
Acquisitions
1
(0.1)
4.9
\u2013
(0.4)
4.4
At 31 March 2026
11.5
4.5
\u2013
( 7.7 )
8.3
1 See note 30.
Approximately \u00a32.6m (2025: \u00a30.2m) of the deferred tax liability relating to property, plant and equipment
and \u00a30.7m (2025: \u00a30.7m) of the deferred tax liability relating to intangible fixed asset timing differences
is expected to reverse within 12 months as the depreciation and amortisation charged on the underlying
assets exceeds tax allowances claimed in the period.
Approximately \u00a33.4m (2025: \u00a30.3m) of the deferred tax asset relating to other items is expected to
reverse within 12 months as taxable profits arise against which these losses can be utilised.
The Group has gross trading losses carried forward at 31 March 2026 amounting to approximately
\u00a326.3m (2025: \u00a35.5m). A deferred tax asset of \u00a35.4m (2025: \u00a30.3m) has been recognised in respect
of these losses. The Group has an unrecognised deferred tax asset relating to losses of \u00a30.6m (2025:
\u00a30.5m). The Group also has gross capital losses carried forward at 31 March 2026 amounting to
approximately \u00a31.4m (2025: \u00a31.4m). No deferred tax asset has been recognised in respect of these losses.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-428": { "value": "
9 (Loss)/earnings per share
The calculation of basic loss per share is based on the loss for the financial year of \u00a326.6m (2025: \u00a31.1m
loss) and the weighted average number of ordinary shares in issue, and is calculated as follows:
Year ended Year ended
31 March 31 March
2026 2025
Weighted average number of shares in issue (m)
Number of shares at the beginning of the year
460.5
457. 7
Movement in shares owned by the Employee Benefit Trust
0.2
2.4
Vested shares not yet exercised
0.6
0.2
Weighted average for the year \u2013 basic number of shares
461.3
460.3
Share options
0.3
0.2
Employee share scheme
\u2013
0.5
Weighted average for the year \u2013 diluted number of shares
461.6
461.0
Year ended Year ended
31 March 31 March
2026 2025
(Loss)/profit (\u00a3m)
Loss for the year after tax \u2013 basic loss
(26.6)
(1.1)
Intangible amortisation charge \u2013 acquired intangibles (after tax)
1.2
0.4
Non-underlying items (after tax)
15.0
7. 2
Fair value movements on financial assets (after tax)
2.5
\u2013
Adjusted (loss)/profit (after tax)
( 7. 9)
6.5
(Loss)/earnings per share (pence)
Basic loss per share
(5.77)
(0.24)
Dilutive shares and options
0.01
\u2013
Diluted loss per share
(5.76)
(0.24)
Adjusted (loss)/earnings per share
(1.71)
1.41
Dilutive shares and options
\u2013
\u2013
Adjusted diluted (loss)/earnings per share
(1.71)
1.41
More detail on adjusted (loss)/earnings is provided in note 11.
Total number of shares outstanding at 31 March 2026 amounted to 516,983,637 (2025: 516,983,637),
including 55,141,657 (2025: 55,141,657) shares held in treasury and 802,874 (2025: 1,329,911) shares held in
the Employee Benefit Trust, which are excluded in calculating basic earnings per share.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-429": { "value": "
10 Dividends
The aggregate amount of dividend paid in the year comprises:
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
2024 final dividend (1.80 pence on 454.7m ordinary shares)
\u2013
8.2
2025 interim dividend (0.80 pence on 455.6m ordinary shares)
\u2013
3.6
2025 final dividend (1.80 pence on 458.8m ordinary shares)
8.3
\u2013
2026 interim dividend (0.30 pence on 456.3m ordinary shares)
1.4
\u2013
9.7
11.8
Subsequent to the end of the year, and not included in the results for the year, the Directors
recommended a final dividend of 0.70 pence (2025: 1.80 pence) per share, bringing the total amount
payable in respect of the year ended 31 March 2026 to 1.00 pence (2025: 2.60 pence), to be paid on
2 October 2026 to shareholders on the register on 21 August 2026.
The Employee Benefit Trust, established to hold shares for the Performance Share Plan and other
employee benefits, waived its right to the interim dividend. At 31 March 2026, the Trust held 802,874
ordinary shares (2025: 1,329,911).
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-467": { "value": "0.007", "decimals": 4, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-466": { "value": "0.018", "decimals": 4, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2024-04-01T00:00:00/2025-04-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-431": { "value": "
12 Intangible assets
Internally
Acquired generated
Right Total Total
Customer of First acquired IT intangible
Goodwill lists Brands Refusal intangibles development assets
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cost
At 1 April 2024
2 7.4
3.9
1.3
\u2013
32.6
18.0
50.6
Additions
\u2013
\u2013
\u2013
\u2013
\u2013
2.5
2.5
At 31 March 2025
2 7.4
3.9
1.3
\u2013
32.6
20.5
53.1
Additions
\u2013
\u2013
\u2013
\u2013
\u2013
2.4
2.4
Acquisitions
1
\u2013
\u2013
\u2013
19.5
19.5
\u2013
19.5
Disposals
\u2013
\u2013
\u2013
\u2013
\u2013
(3.6)
(3.6)
At 31 March 2026
27. 4
3.9
1.3
19.5
52 .1
19.3
71.4
Accumulated
amortisation
At 1 April 2024
\u2013
2.1
1.1
\u2013
3.2
7. 7
10.9
Charged in year
\u2013
0.4
0.2
\u2013
0.6
3.2
3.8
At 31 March 2025
\u2013
2.5
1.3
\u2013
3.8
10.9
14.7
Charged in year
\u2013
0.5
\u2013
1.1
1.6
2.7
4.3
Disposals
\u2013
\u2013
\u2013
\u2013
\u2013
(3.6)
(3.6)
At 31 March 2026
\u2013
3.0
1.3
1.1
5.4
10.0
15.4
Net book value
At 31 March 2026
27. 4
0.9
\u2013
18.4
46.7
9.3
56.0
At 31 March 2025
2 7.4
1.4
\u2013
\u2013
28.8
9.6
38.4
At 31 March 2024
2 7.4
1.8
0.2
\u2013
29.4
10.3
39.7
1
See note 30.
The remaining amortisation period of each category of intangible fixed asset is the following: Customer
lists one to eight years (2025: two to nine years), Brands one year (2025: two years), Right of first refusal
six years (2025: nil) and IT development two to three years (2025: three to four years).
Analysis of goodwill, customer lists, brands and IT development by cash-generating unit:
Customer Right of First IT
Goodwill lists Brands Refusal development Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Allocated to
Hire
26.4
0.9
\u2013
18.4
8.2
53.9
Services
1.0
\u2013
\u2013
\u2013
1.1
2.1
At 31 March 2026
27. 4
0.9
\u2013
18.4
9.3
56.0
Allocated to
Hire
26.4
1.1
\u2013
\u2013
8.4
35.9
Services
1.0
0.3
\u2013
\u2013
1.2
2.5
At 31 March 2025
2 7.4
1.4
\u2013
\u2013
9.6
38.4
All goodwill has arisen from business combinations and has been allocated to the cash-generating unit
(\u2018CGU\u2019) expected to benefit from those business combinations. All intangible assets are held in the UK.
The Group tests goodwill for impairment annually, or more frequently if there are indications that
goodwill might be impaired, and considers at each reporting date whether there are indicators that
impairment may have occurred. Other assets are assessed at each reporting date for any indicators of
impairment and tested if an indicator is identified. The Group\u2019s reportable CGUs comprise the UK&I Hire
business (\u2018Hire\u2019) and UK&I Services business (\u2018Services\u2019), representing the lowest level within the Group
at which the associated assets are monitored for management purposes.
The recoverable amounts of the assets allocated to the CGUs are determined by a value-in-use
calculation. The value-in-use calculation uses cash flow projections based on five-year financial
forecasts.
To prepare the value-in-use calculation, the Group uses cash flow projections from the Board-approved
FY2027 budget, and a subsequent four-year period representing revenue growth in line with the
expected market growth, with inflationary cost increases. This represents no significant uplift from
strategic initiatives and is a continuation of the steady state of the Group, forming the best estimate of
forecast performance at the time of impairment testing. A terminal value into perpetuity using long-term
growth rates is then applied to these cash flows.
The key assumptions for these forecasts are those regarding trading performance \u2013 representing a
combination of projected changes in revenue and overheads \u2013 and discount rate.
The Group\u2019s five-year financial forecasts assume average annual revenue growth of 6.1% and an
average overhead increase of 3.3%. This results in average operating margin of 7.7%. Revenue growth
is in line with the Group\u2019s current view of average market growth, adjusted for the annualised impact of
significant contracts secured by the Group during FY2026, which are yet to fully mobilise. The forecasts
therefore assume an expectation of growth in relative market share. The Directors believe that the
assumptions adopted in the cash flow forecasts are the most appropriate.
The resulting forecast cash flows are discounted back to present value, using an estimate of the Group\u2019s
pre-tax weighted average cost of capital, adjusted for risk factors associated with the CGUs and market-
specific risks.
The impairment model is prepared in nominal terms. The future cash flows are based on current price
terms inflated into future values, using general inflation and any known cost or sales initiatives. The
discount rate is calculated in nominal terms, using market and published rates.
The pre-tax discount rates and terminal growth rates applied are as follows:
31 March 2026
31 March 2025
Pre\u2011tax Terminal value Pre\u2011tax Terminal value
discount rate growth rate discount rate growth rate
UK and Ireland Hire and Services
12.3%
2.0%
12.6%
2.0%
A single discount rate is applied to both CGUs as they operate in the same market, with access to the
same shared Group financing facility, with no additional specific risks applicable to either CGU.
At 31 March 2026, the headroom between value in use and carrying value of related assets for the UK
and Ireland was \u00a3153.6m (2025: \u00a3261.8m) \u2013 \u00a3130.4m for Hire (2025: \u00a3165.7m) and \u00a323.2m for Services
(2025: \u00a396.1m).
Impairment calculations are sensitive to changes in key assumptions around trading performance and
discount rate. An impairment may be identified if there is a significant change to these key assumptions,
resulting from declining economic or market conditions and sustained underperformance of the Group.
The sensitivity applied in relation to trading performance is aligned to the assumptions applied in
relation to going concern, representing a severe but plausible downside scenario, resulting in reduced
revenue growth and lower profitability. Changes to key assumptions from the base model are as follows:
Reduced trading performance
Five\u2011year forecast
period
Average annual revenue growth
5.3%
Average annual overheads growth
3.8%
Operating profit margin
4.9%
Revenue growth in this scenario is still ahead of general market trend initially, as a result of the Group\u2019s
secured contract wins which are yet to fully mobilise. Revenue growth thereafter however drops below
expected market growth, representing a severe downside sensitivity. This scenario still results in a
significant decline in operating profit margin from the base model, with limited mitigating actions. No
impairment was identified as a result of the application of these sensitivities.
Whilst revenue growth represents a key assumption in the value-in-use calculation, it should not be
considered in isolation as there are cost saving measures available to the Group to mitigate the impact
of reduced revenue growth. For information, an unmitigated 1% reduction in revenue from the base
model, in each year including the terminal period, would result in a \u00a336.7m reduction in headroom \u2013
\u00a334.4m for Hire and \u00a32.3m for Services. This would not result in an impairment in either CGU.
Not considering relevant mitigations, revenue over the forecast period would need to decrease by 3.8%
for Hire and 10.0% for Services from the base model, for the recoverable amount of each CGU to equal
its respective carrying amount.
In the event of sustained or severe revenue underperformance, the Group is able to respond by making
additional efficiencies not already included in the trading performance sensitivity. These include, but are
not limited to, further reduced capital expenditure and cost saving initiatives.
The table below shows the reduction in headroom created by a change in assumptions:
Impact on headroom at 31 March 2026
(\u00a3m)
Pre\u2011tax discount
Reduced trading rate \u2013 0.5%
performance increase
Hire
(114.0)
(20.2)
Services
(13.7)
(1.9)
There are no reasonable variations in these assumptions that would be sufficient to result in an
impairment of either the Hire or Services CGU at 31 March 2026.
It is noted that the market capitalisation of the Group at 31 March 2026 was below the consolidated net
asset position \u2013 one indicator that an impairment may exist. Based on the impairment test performed,
the Directors believe that no impairment is required in this regard.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-494": { "value": "12 Intangible assets
Internally
Acquired generated
Right Total Total
Customer of First acquired IT intangible
Goodwill lists Brands Refusal intangibles development assets
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cost
At 1 April 2024
2 7.4
3.9
1.3
\u2013
32.6
18.0
50.6
Additions
\u2013
\u2013
\u2013
\u2013
\u2013
2.5
2.5
At 31 March 2025
2 7.4
3.9
1.3
\u2013
32.6
20.5
53.1
Additions
\u2013
\u2013
\u2013
\u2013
\u2013
2.4
2.4
Acquisitions
1
\u2013
\u2013
\u2013
19.5
19.5
\u2013
19.5
Disposals
\u2013
\u2013
\u2013
\u2013
\u2013
(3.6)
(3.6)
At 31 March 2026
27. 4
3.9
1.3
19.5
52 .1
19.3
71.4
Accumulated
amortisation
At 1 April 2024
\u2013
2.1
1.1
\u2013
3.2
7. 7
10.9
Charged in year
\u2013
0.4
0.2
\u2013
0.6
3.2
3.8
At 31 March 2025
\u2013
2.5
1.3
\u2013
3.8
10.9
14.7
Charged in year
\u2013
0.5
\u2013
1.1
1.6
2.7
4.3
Disposals
\u2013
\u2013
\u2013
\u2013
\u2013
(3.6)
(3.6)
At 31 March 2026
\u2013
3.0
1.3
1.1
5.4
10.0
15.4
Net book value
At 31 March 2026
27. 4
0.9
\u2013
18.4
46.7
9.3
56.0
At 31 March 2025
2 7.4
1.4
\u2013
\u2013
28.8
9.6
38.4
At 31 March 2024
2 7.4
1.8
0.2
\u2013
29.4
10.3
39.7
1 See note 30. The remaining amortisation period of each category of intangible fixed asset is the following: Customer lists one to eight years (2025: two to nine years), Brands one year (2025: two years), Right of first refusal six years (2025: nil) and IT development two to three years (2025: three to four years). Analysis of goodwill, customer lists, brands and IT development by cash-generating unit:
Customer Right of First IT
Goodwill lists Brands Refusal development Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Allocated to
Hire
26.4
0.9
\u2013
18.4
8.2
53.9
Services
1.0
\u2013
\u2013
\u2013
1.1
2.1
At 31 March 2026
27. 4
0.9
\u2013
18.4
9.3
56.0
Allocated to
Hire
26.4
1.1
\u2013
\u2013
8.4
35.9
Services
1.0
0.3
\u2013
\u2013
1.2
2.5
At 31 March 2025
2 7.4
1.4
\u2013
\u2013
9.6
38.4
All goodwill has arisen from business combinations and has been allocated to the cash-generating unit (\u2018CGU\u2019) expected to benefit from those business combinations. All intangible assets are held in the UK. The Group tests goodwill for impairment annually, or more frequently if there are indications that goodwill might be impaired, and considers at each reporting date whether there are indicators that impairment may have occurred. Other assets are assessed at each reporting date for any indicators of impairment and tested if an indicator is identified. The Group\u2019s reportable CGUs comprise the UK&I Hire business (\u2018Hire\u2019) and UK&I Services business (\u2018Services\u2019), representing the lowest level within the Group at which the associated assets are monitored for management purposes. The recoverable amounts of the assets allocated to the CGUs are determined by a value-in-use calculation. The value-in-use calculation uses cash flow projections based on five-year financial forecasts. To prepare the value-in-use calculation, the Group uses cash flow projections from the Board-approved FY2027 budget, and a subsequent four-year period representing revenue growth in line with the expected market growth, with inflationary cost increases. This represents no significant uplift from strategic initiatives and is a continuation of the steady state of the Group, forming the best estimate of forecast performance at the time of impairment testing. A terminal value into perpetuity using long-term growth rates is then applied to these cash flows. The key assumptions for these forecasts are those regarding trading performance \u2013 representing a combination of projected changes in revenue and overheads \u2013 and discount rate. The Group\u2019s five-year financial forecasts assume average annual revenue growth of 6.1% and an average overhead increase of 3.3%. This results in average operating margin of 7.7%. Revenue growth is in line with the Group\u2019s current view of average market growth, adjusted for the annualised impact of significant contracts secured by the Group during FY2026, which are yet to fully mobilise. The forecasts therefore assume an expectation of growth in relative market share. The Directors believe that the assumptions adopted in the cash flow forecasts are the most appropriate. The resulting forecast cash flows are discounted back to present value, using an estimate of the Group\u2019s pre-tax weighted average cost of capital, adjusted for risk factors associated with the CGUs and market- specific risks. The impairment model is prepared in nominal terms. The future cash flows are based on current price terms inflated into future values, using general inflation and any known cost or sales initiatives. The discount rate is calculated in nominal terms, using market and published rates. The pre-tax discount rates and terminal growth rates applied are as follows:
31 March 2026
31 March 2025
Pre\u2011tax Terminal value Pre\u2011tax Terminal value
discount rate growth rate discount rate growth rate
UK and Ireland Hire and Services
12.3%
2.0%
12.6%
2.0%
A single discount rate is applied to both CGUs as they operate in the same market, with access to the same shared Group financing facility, with no additional specific risks applicable to either CGU. At 31 March 2026, the headroom between value in use and carrying value of related assets for the UK and Ireland was \u00a3153.6m (2025: \u00a3261.8m) \u2013 \u00a3130.4m for Hire (2025: \u00a3165.7m) and \u00a323.2m for Services (2025: \u00a396.1m). Impairment calculations are sensitive to changes in key assumptions around trading performance and discount rate. An impairment may be identified if there is a significant change to these key assumptions, resulting from declining economic or market conditions and sustained underperformance of the Group. The sensitivity applied in relation to trading performance is aligned to the assumptions applied in relation to going concern, representing a severe but plausible downside scenario, resulting in reduced revenue growth and lower profitability. Changes to key assumptions from the base model are as follows: Reduced trading performance
Five\u2011year forecast
period
Average annual revenue growth
5.3%
Average annual overheads growth
3.8%
Operating profit margin
4.9%
Revenue growth in this scenario is still ahead of general market trend initially, as a result of the Group\u2019s secured contract wins which are yet to fully mobilise. Revenue growth thereafter however drops below expected market growth, representing a severe downside sensitivity. This scenario still results in a significant decline in operating profit margin from the base model, with limited mitigating actions. No impairment was identified as a result of the application of these sensitivities. Whilst revenue growth represents a key assumption in the value-in-use calculation, it should not be considered in isolation as there are cost saving measures available to the Group to mitigate the impact of reduced revenue growth. For information, an unmitigated 1% reduction in revenue from the base model, in each year including the terminal period, would result in a \u00a336.7m reduction in headroom \u2013 \u00a334.4m for Hire and \u00a32.3m for Services. This would not result in an impairment in either CGU. Not considering relevant mitigations, revenue over the forecast period would need to decrease by 3.8% for Hire and 10.0% for Services from the base model, for the recoverable amount of each CGU to equal its respective carrying amount. In the event of sustained or severe revenue underperformance, the Group is able to respond by making additional efficiencies not already included in the trading performance sensitivity. These include, but are not limited to, further reduced capital expenditure and cost saving initiatives. The table below shows the reduction in headroom created by a change in assumptions:
Impact on headroom at 31 March 2026
(\u00a3m)
Pre\u2011tax discount
Reduced trading rate \u2013 0.5%
performance increase
Hire
(114.0)
(20.2)
Services
(13.7)
(1.9)
There are no reasonable variations in these assumptions that would be sufficient to result in an impairment of either the Hire or Services CGU at 31 March 2026. It is noted that the market capitalisation of the Group at 31 March 2026 was below the consolidated net asset position \u2013 one indicator that an impairment may exist. Based on the impairment test performed, the Directors believe that no impairment is required in this regard.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-468": { "value": "12 Intangible assets
Internally
Acquired generated
Right Total Total
Customer of First acquired IT intangible
Goodwill lists Brands Refusal intangibles development assets
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cost
At 1 April 2024
2 7.4
3.9
1.3
\u2013
32.6
18.0
50.6
Additions
\u2013
\u2013
\u2013
\u2013
\u2013
2.5
2.5
At 31 March 2025
2 7.4
3.9
1.3
\u2013
32.6
20.5
53.1
Additions
\u2013
\u2013
\u2013
\u2013
\u2013
2.4
2.4
Acquisitions
1
\u2013
\u2013
\u2013
19.5
19.5
\u2013
19.5
Disposals
\u2013
\u2013
\u2013
\u2013
\u2013
(3.6)
(3.6)
At 31 March 2026
27. 4
3.9
1.3
19.5
52 .1
19.3
71.4
Accumulated
amortisation
At 1 April 2024
\u2013
2.1
1.1
\u2013
3.2
7. 7
10.9
Charged in year
\u2013
0.4
0.2
\u2013
0.6
3.2
3.8
At 31 March 2025
\u2013
2.5
1.3
\u2013
3.8
10.9
14.7
Charged in year
\u2013
0.5
\u2013
1.1
1.6
2.7
4.3
Disposals
\u2013
\u2013
\u2013
\u2013
\u2013
(3.6)
(3.6)
At 31 March 2026
\u2013
3.0
1.3
1.1
5.4
10.0
15.4
Net book value
At 31 March 2026
27. 4
0.9
\u2013
18.4
46.7
9.3
56.0
At 31 March 2025
2 7.4
1.4
\u2013
\u2013
28.8
9.6
38.4
At 31 March 2024
2 7.4
1.8
0.2
\u2013
29.4
10.3
39.7
1 See note 30. The remaining amortisation period of each category of intangible fixed asset is the following: Customer lists one to eight years (2025: two to nine years), Brands one year (2025: two years), Right of first refusal six years (2025: nil) and IT development two to three years (2025: three to four years). Analysis of goodwill, customer lists, brands and IT development by cash-generating unit:
Customer Right of First IT
Goodwill lists Brands Refusal development Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Allocated to
Hire
26.4
0.9
\u2013
18.4
8.2
53.9
Services
1.0
\u2013
\u2013
\u2013
1.1
2.1
At 31 March 2026
27. 4
0.9
\u2013
18.4
9.3
56.0
Allocated to
Hire
26.4
1.1
\u2013
\u2013
8.4
35.9
Services
1.0
0.3
\u2013
\u2013
1.2
2.5
At 31 March 2025
2 7.4
1.4
\u2013
\u2013
9.6
38.4
All goodwill has arisen from business combinations and has been allocated to the cash-generating unit (\u2018CGU\u2019) expected to benefit from those business combinations. All intangible assets are held in the UK. The Group tests goodwill for impairment annually, or more frequently if there are indications that goodwill might be impaired, and considers at each reporting date whether there are indicators that impairment may have occurred. Other assets are assessed at each reporting date for any indicators of impairment and tested if an indicator is identified. The Group\u2019s reportable CGUs comprise the UK&I Hire business (\u2018Hire\u2019) and UK&I Services business (\u2018Services\u2019), representing the lowest level within the Group at which the associated assets are monitored for management purposes. The recoverable amounts of the assets allocated to the CGUs are determined by a value-in-use calculation. The value-in-use calculation uses cash flow projections based on five-year financial forecasts. To prepare the value-in-use calculation, the Group uses cash flow projections from the Board-approved FY2027 budget, and a subsequent four-year period representing revenue growth in line with the expected market growth, with inflationary cost increases. This represents no significant uplift from strategic initiatives and is a continuation of the steady state of the Group, forming the best estimate of forecast performance at the time of impairment testing. A terminal value into perpetuity using long-term growth rates is then applied to these cash flows. The key assumptions for these forecasts are those regarding trading performance \u2013 representing a combination of projected changes in revenue and overheads \u2013 and discount rate. The Group\u2019s five-year financial forecasts assume average annual revenue growth of 6.1% and an average overhead increase of 3.3%. This results in average operating margin of 7.7%. Revenue growth is in line with the Group\u2019s current view of average market growth, adjusted for the annualised impact of significant contracts secured by the Group during FY2026, which are yet to fully mobilise. The forecasts therefore assume an expectation of growth in relative market share. The Directors believe that the assumptions adopted in the cash flow forecasts are the most appropriate. The resulting forecast cash flows are discounted back to present value, using an estimate of the Group\u2019s pre-tax weighted average cost of capital, adjusted for risk factors associated with the CGUs and market- specific risks. The impairment model is prepared in nominal terms. The future cash flows are based on current price terms inflated into future values, using general inflation and any known cost or sales initiatives. The discount rate is calculated in nominal terms, using market and published rates. The pre-tax discount rates and terminal growth rates applied are as follows:
31 March 2026
31 March 2025
Pre\u2011tax Terminal value Pre\u2011tax Terminal value
discount rate growth rate discount rate growth rate
UK and Ireland Hire and Services
12.3%
2.0%
12.6%
2.0%
A single discount rate is applied to both CGUs as they operate in the same market, with access to the same shared Group financing facility, with no additional specific risks applicable to either CGU. At 31 March 2026, the headroom between value in use and carrying value of related assets for the UK and Ireland was \u00a3153.6m (2025: \u00a3261.8m) \u2013 \u00a3130.4m for Hire (2025: \u00a3165.7m) and \u00a323.2m for Services (2025: \u00a396.1m). Impairment calculations are sensitive to changes in key assumptions around trading performance and discount rate. An impairment may be identified if there is a significant change to these key assumptions, resulting from declining economic or market conditions and sustained underperformance of the Group. The sensitivity applied in relation to trading performance is aligned to the assumptions applied in relation to going concern, representing a severe but plausible downside scenario, resulting in reduced revenue growth and lower profitability. Changes to key assumptions from the base model are as follows: Reduced trading performance
Five\u2011year forecast
period
Average annual revenue growth
5.3%
Average annual overheads growth
3.8%
Operating profit margin
4.9%
Revenue growth in this scenario is still ahead of general market trend initially, as a result of the Group\u2019s secured contract wins which are yet to fully mobilise. Revenue growth thereafter however drops below expected market growth, representing a severe downside sensitivity. This scenario still results in a significant decline in operating profit margin from the base model, with limited mitigating actions. No impairment was identified as a result of the application of these sensitivities. Whilst revenue growth represents a key assumption in the value-in-use calculation, it should not be considered in isolation as there are cost saving measures available to the Group to mitigate the impact of reduced revenue growth. For information, an unmitigated 1% reduction in revenue from the base model, in each year including the terminal period, would result in a \u00a336.7m reduction in headroom \u2013 \u00a334.4m for Hire and \u00a32.3m for Services. This would not result in an impairment in either CGU. Not considering relevant mitigations, revenue over the forecast period would need to decrease by 3.8% for Hire and 10.0% for Services from the base model, for the recoverable amount of each CGU to equal its respective carrying amount. In the event of sustained or severe revenue underperformance, the Group is able to respond by making additional efficiencies not already included in the trading performance sensitivity. These include, but are not limited to, further reduced capital expenditure and cost saving initiatives. The table below shows the reduction in headroom created by a change in assumptions:
Impact on headroom at 31 March 2026
(\u00a3m)
Pre\u2011tax discount
Reduced trading rate \u2013 0.5%
performance increase
Hire
(114.0)
(20.2)
Services
(13.7)
(1.9)
There are no reasonable variations in these assumptions that would be sufficient to result in an impairment of either the Hire or Services CGU at 31 March 2026. It is noted that the market capitalisation of the Group at 31 March 2026 was below the consolidated net asset position \u2013 one indicator that an impairment may exist. Based on the impairment test performed, the Directors believe that no impairment is required in this regard.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-430": { "value": "
11 Non\u2011GAAP performance measures
The Group believes that the measures below provide valuable additional information for users of the
Financial Statements in assessing the Group\u2019s performance by adjusting for the effect of non-underlying
items and significant non-cash items including depreciation, amortisation and fair value movements on
financial assets. The Group uses these measures for planning, budgeting and reporting purposes and
for its internal assessment of the operating performance of the individual divisions within the Group. The
measures on a continuing basis are as follows:
Year ended Year ended
31 March 31 March
2026 2025
\u00a3m \u00a3m
Operating (loss)/profit
(13.3)
13.4
Add back: amortisation
4.3
3.8
Add back: non-underlying items
1 7.6
9.6
Add back: fair value movements on financial assets
3.3
\u2013
Adjusted operating (loss)/profit (EBITA)
11.9
26.8
Add back: depreciation
72.2
67. 6
Add back: loss on planned disposals of hire equipment
1.3
2.7
Adjusted EBITDA
85.4
97.1
Loss before tax
(32.3)
(1.5)
Add back: amortisation of acquired intangibles
1.6
0.6
Add back: non-underlying items
1 7.6
9.6
Add back: fair value movements on financial assets
3.3
\u2013
Adjusted (loss)/profit before tax
(9.8)
8.7
Return on capital employed (ROCE)
Adjusted (loss)/profit before tax
(9.8)
8.7
Finance costs
18.6
15.9
Profit before tax, interest, amortisation of acquired intangibles, non-
underlying items and fair value movements on financial assets
1
8.8
24.6
Average gross capital employed
2
281.2
276.2
ROCE
3.1%
8.9%
1
Profit before tax, finance costs, amortisation of acquired intangibles, non-underlying items and fair value movements
on financial assets for the last 12 months.
2
Average gross capital employed (where capital employed equals total equity and net debt) based on a two-point
average for the last 12 months.
", "dimensions": { "concept": "speedyhireplc:DisclosureOfNonGAAPPerformanceMeasures", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-432": { "value": "
13 Investment in joint ventures
Turner & Hickman Limited
Speedy Hire Plc has a 50% interest in the share capital of Turner and Hickman Limited, a joint venture
company that controls the operations of Speedy Zholdas LLP via a 90% shareholding, with the other
50% interest being held by J. & J. Denholm Group. The proportion of ownership interest is the same as
the proportion of voting rights held. Speedy Zholdas LLP provides asset management and equipment
rental services to the oil and gas sector in Kazakhstan. Total cash consideration for the purchase of
shares in Turner and Hickman Limited was US$4.3m in November 2013.
At 31 March 2026, the joint venture is considered material to the Group. The country of incorporation
or registration is also their principal place of business, with the presentation currency and functional
currency being tenge.
The joint venture has a non-coterminous year end with Speedy Hire, reporting to 31 December each
year, to be consistent with the other joint venture partner J. & J. Denholm Group. Speedy Hire reports
the share of joint venture one month in arrears. As such estimate reporting is used, taking ten month
reported actuals, a further two months of the joint venture\u2019s results for the following year, plus any
significant transactions in the following month, to report twelve months to 31 March.
Speedy Hydrogen Solutions Limited
Speedy Hire Plc has a 50% interest in Speedy Hydrogen Solutions Limited (\u2018SHS\u2019), a 50:50 joint venture
company with H-Power Plc, based in the United Kingdom. The proportion of ownership interest is the
same as the proportion of voting rights held. SHS is a dedicated hydrogen-powered generator plant hire
business promoting sustainable, zero emission, temporary power solutions designed specifically for the
off-grid generation market. An initial equity injection into SHS (as a subscription for shares) of \u00a31.25m
was made upon formation of SHS (\u00a30.625m from each joint venture partner).
The first trade arose in SHS in the year ended 31 March 2026 (2025: none), however the joint venture is
not material to the Group. The joint venture has a non-coterminous year end with Speedy Hire, reporting
to 31 October each year, to be consistent with the other joint venture partner H-Power Plc.
Speedy Hire\u2019s share of joint ventures is as follows:
Speedy Hydrogen Turner & Hickman
Solutions Limited Limited
Equity Equity
investment investment
\u00a3m \u00a3m
At 1 April 2024
0.6
8.2
Share of results for the year after tax
\u2013
1.0
Share of other comprehensive income
\u2013
(0.5)
Dividends received
\u2013
(3.6)
At 31 March 2025
0.6
5.1
Share of results for the year after tax
\u2013
(0.4)
Share of other comprehensive income
\u2013
(0.3)
Dividends received
\u2013
\u2013
At 31 March 2026
0.6
4.4
Summarised financial information of Speedy Zholdas LLP is presented below. Whilst the figures are
presented in tenge in the accounts of the joint venture, they have been translated into pound sterling
below using the rate prevailing at the 31 December 2025 of 0.001470 (31 December 2024: 0.001510)
for presentation purposes. The information disclosed reflects the amounts presented in the Financial
Statements of the joint venture and not Speedy Hire Plc\u2019s share of those amounts.
Year ended Year ended
31 December 31 December
2025 2024
\u00a3m \u00a3m
Revenue
2.4
11.1
Cost of sales
(2.0)
(4.6)
Gross profit
0.4
6.5
General and administrative expenses
(1.9)
(2.4)
Operating (loss)/profit
(1.5)
4.1
Other income
0.6
0.3
(Loss)/profit before tax
(0.9)
4.4
Income tax credit/(expense)
0.1
(1.1)
(Loss)/profit for the year
(0.8)
3.3
31 December 31 December
2025 2024
\u00a3m \u00a3m
ASSETS
Non-current assets
1.5
2.3
Current assets
Inventories
0.4
0.5
Trade accounts receivable
0.4
2.6
Cash and cash equivalents
0.4
0.2
Other current assets
0.4
0.6
Total current assets
1.6
3.9
Total assets
3.1
6.2
LIABILITIES
Current liabilities
Trade accounts payable
(0.2)
(0.4)
Other current liabilities
(0.2)
(0.9)
Total current liabilities
(0.4)
(1.3)
Net assets
2.7
4.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-469": { "value": "13 Investment in joint ventures Turner & Hickman Limited Speedy Hire Plc has a 50% interest in the share capital of Turner and Hickman Limited, a joint venture company that controls the operations of Speedy Zholdas LLP via a 90% shareholding, with the other 50% interest being held by J. & J. Denholm Group. The proportion of ownership interest is the same as the proportion of voting rights held. Speedy Zholdas LLP provides asset management and equipment rental services to the oil and gas sector in Kazakhstan. Total cash consideration for the purchase of shares in Turner and Hickman Limited was US$4.3m in November 2013. At 31 March 2026, the joint venture is considered material to the Group. The country of incorporation or registration is also their principal place of business, with the presentation currency and functional currency being tenge. The joint venture has a non-coterminous year end with Speedy Hire, reporting to 31 December each year, to be consistent with the other joint venture partner J. & J. Denholm Group. Speedy Hire reports the share of joint venture one month in arrears. As such estimate reporting is used, taking ten month reported actuals, a further two months of the joint venture\u2019s results for the following year, plus any significant transactions in the following month, to report twelve months to 31 March. Speedy Hydrogen Solutions Limited Speedy Hire Plc has a 50% interest in Speedy Hydrogen Solutions Limited (\u2018SHS\u2019), a 50:50 joint venture company with H-Power Plc, based in the United Kingdom. The proportion of ownership interest is the same as the proportion of voting rights held. SHS is a dedicated hydrogen-powered generator plant hire business promoting sustainable, zero emission, temporary power solutions designed specifically for the off-grid generation market. An initial equity injection into SHS (as a subscription for shares) of \u00a31.25m was made upon formation of SHS (\u00a30.625m from each joint venture partner). The first trade arose in SHS in the year ended 31 March 2026 (2025: none), however the joint venture is not material to the Group. The joint venture has a non-coterminous year end with Speedy Hire, reporting to 31 October each year, to be consistent with the other joint venture partner H-Power Plc. Speedy Hire\u2019s share of joint ventures is as follows:
Speedy Hydrogen Turner & Hickman
Solutions Limited Limited
Equity Equity
investment investment
\u00a3m \u00a3m
At 1 April 2024
0.6
8.2
Share of results for the year after tax
\u2013
1.0
Share of other comprehensive income
\u2013
(0.5)
Dividends received
\u2013
(3.6)
At 31 March 2025
0.6
5.1
Share of results for the year after tax
\u2013
(0.4)
Share of other comprehensive income
\u2013
(0.3)
Dividends received
\u2013
\u2013
At 31 March 2026
0.6
4.4
Summarised financial information of Speedy Zholdas LLP is presented below. Whilst the figures are presented in tenge in the accounts of the joint venture, they have been translated into pound sterling below using the rate prevailing at the 31 December 2025 of 0.001470 (31 December 2024: 0.001510) for presentation purposes. The information disclosed reflects the amounts presented in the Financial Statements of the joint venture and not Speedy Hire Plc\u2019s share of those amounts.
Year ended Year ended
31 December 31 December
2025 2024
\u00a3m \u00a3m
Revenue
2.4
11.1
Cost of sales
(2.0)
(4.6)
Gross profit
0.4
6.5
General and administrative expenses
(1.9)
(2.4)
Operating (loss)/profit
(1.5)
4.1
Other income
0.6
0.3
(Loss)/profit before tax
(0.9)
4.4
Income tax credit/(expense)
0.1
(1.1)
(Loss)/profit for the year
(0.8)
3.3
31 December 31 December
2025 2024
\u00a3m \u00a3m
ASSETS
Non-current assets
1.5
2.3
Current assets
Inventories
0.4
0.5
Trade accounts receivable
0.4
2.6
Cash and cash equivalents
0.4
0.2
Other current assets
0.4
0.6
Total current assets
1.6
3.9
Total assets
3.1
6.2
LIABILITIES
Current liabilities
Trade accounts payable
(0.2)
(0.4)
Other current liabilities
(0.2)
(0.9)
Total current liabilities
(0.4)
(1.3)
Net assets
2.7
4.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-433": { "value": "
14 Property, plant and equipment
Land and Hire
buildings equipment Other Total
\u00a3m \u00a3m \u00a3m \u00a3m
Cost
At 1 April 2024
58.2
386.0
28.2
472.4
Foreign exchange
\u2013
(0.5)
\u2013
(0.5)
Additions
4.9
57.5
0.8
63.2
Disposals
(2.1)
(19.9)
(1.3)
(23.3)
Transfers to inventory
\u2013
(21.6)
\u2013
(21.6)
At 31 March 2025
61.0
401.5
2 7.7
490.2
Foreign exchange
\u2013
0.2
\u2013
0.2
Additions
2.0
53.0
1.3
56.3
Acquisitions
1
\u2013
16.8
\u2013
16.8
Disposals
(2.3)
(15.3)
(0.4)
(18.0)
Transfers to inventory
\u2013
(33.7)
\u2013
(33.7)
At 31 March 2026
60.7
422.5
28.6
511.8
Accumulated depreciation
At 1 April 2024
43.7
175.4
20.2
239.3
Foreign exchange
\u2013
(0.4)
\u2013
(0.4)
Charged in year
4.1
30.9
2.6
37.6
Disposals
(1.8)
(11.5)
(1.0)
(14.3)
Transfers to inventory
\u2013
(15.3)
\u2013
(15.3)
At 31 March 2025
46.0
179.1
21.8
246.9
Foreign exchange
\u2013
0.2
\u2013
0.2
Charged in year
3.7
35.3
1.8
40.8
Disposals
(1.7)
(8.0)
(0.3)
(10.0)
Transfers to inventory
\u2013
(23.5)
\u2013
(23.5)
At 31 March 2026
48.0
183.1
23.3
254.4
Net book value
At 31 March 2026
12.7
239.4
5.3
25 7.4
At 31 March 2025
15.0
222.4
5.9
243.3
At 31 March 2024
14.5
210.6
8.0
233.1
1
See note 30.
The net book value of land and buildings is made up of improvements to short leasehold properties.
Of the \u00a3239.4m (2025: \u00a3222.4m) net book value of hire equipment, \u00a331.6m (2025: \u00a325.7m) relates to non-
itemised assets.
The net book value of other \u2013 non-hire equipment \u2013 comprises, fixtures, fittings, office equipment and IT
equipment.
At 31 March 2026, no indicators of impairment were identified in relation to property, plant and
equipment (2025: none).
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-434": { "value": "
15 Right of use assets
Land and
buildings Other Total
\u00a3m \u00a3m \u00a3m
Cost
At 1 April 2024
165.5
66.9
232.4
Additions
2.1
19.3
21.4
Remeasurements
13.1
3.2
16.3
Disposals
(5.4)
(10.1)
(15.5)
At 31 March 2025
175.3
79.3
254.6
Additions
8.7
8.3
17.0
Remeasurements
21.7
0.3
22.0
Disposals
(9.0)
(15.3)
(24.3)
At 31 March 2026
196.7
72.6
269.3
Accumulated depreciation
At 1 April 2024
106.3
28.8
135.1
Charged in year
14.2
15.8
30.0
Disposals
(4.9)
(9.8)
(14.7)
At 31 March 2025
115.6
34.8
150.4
Charged in year
14.6
16.8
31.4
Disposals
(6.2)
(15.1)
(21.3)
At 31 March 2026
124.0
36.5
160.5
Net book value
At 31 March 2026
72.7
36.1
108.8
At 31 March 2025
59.7
44.5
104.2
At 31 March 2024
59.2
38.1
97.3
Land and buildings leases comprise depots and associated ancillary leases such as car parks and yards.
Other leases consist of cars, lorries, vans and forklifts.
Included within disposals for the year ended 31 March 2026 is \u00a30.7m (2025: \u00a30.4m) relating to
impairment of property leases presented within non-underlying items.
21 Lease liabilities
Land and
buildings Other Total
\u00a3m \u00a3m \u00a3m
At 1 April 2024
55.9
41.7
97. 6
Additions
2.1
19.3
21.4
Remeasurements
13.1
3.2
16.3
Repayments
(16.8)
(18.2)
(35.0)
Unwinding of discount rate
3.2
3.2
6.4
Terminations
(0.8)
\u2013
(0.8)
At 31 March 2025
56.7
49.2
105.9
Additions
8.7
8.3
17.0
Remeasurements
21.7
0.3
22.0
Repayments
(15.1)
(22.4)
(37.5)
Unwinding of discount rate
4.1
3.4
7. 5
Terminations
(0.3)
(0.2)
(0.5)
At 31 March 2026
75.8
38.6
114.4
Included within terminations for the year ended 31 March 2026 is \u00a30.7m (2025: \u00a30.4m) relating to
exceptional terminations of property leases.
Amounts payable for lease liabilities (discounted at the incremental borrowing rate of each lease) fall
due as follows:
31 March 31 March
2026 2025
\u00a3m \u00a3m
Payable within one year
27.9
25.0
Payable in more than one year
86.5
80.9
At 31 March
114.4
105.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-470": { "value": "15 Right of use assets
Land and
buildings Other Total
\u00a3m \u00a3m \u00a3m
Cost
At 1 April 2024
165.5
66.9
232.4
Additions
2.1
19.3
21.4
Remeasurements
13.1
3.2
16.3
Disposals
(5.4)
(10.1)
(15.5)
At 31 March 2025
175.3
79.3
254.6
Additions
8.7
8.3
17.0
Remeasurements
21.7
0.3
22.0
Disposals
(9.0)
(15.3)
(24.3)
At 31 March 2026
196.7
72.6
269.3
Accumulated depreciation
At 1 April 2024
106.3
28.8
135.1
Charged in year
14.2
15.8
30.0
Disposals
(4.9)
(9.8)
(14.7)
At 31 March 2025
115.6
34.8
150.4
Charged in year
14.6
16.8
31.4
Disposals
(6.2)
(15.1)
(21.3)
At 31 March 2026
124.0
36.5
160.5
Net book value
At 31 March 2026
72.7
36.1
108.8
At 31 March 2025
59.7
44.5
104.2
At 31 March 2024
59.2
38.1
97.3
Land and buildings leases comprise depots and associated ancillary leases such as car parks and yards. Other leases consist of cars, lorries, vans and forklifts. Included within disposals for the year ended 31 March 2026 is \u00a30.7m (2025: \u00a30.4m) relating to impairment of property leases presented within non-underlying items. ", "dimensions": { "concept": "ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-435": { "value": "
16 Inventories
31 March 31 March
2026 2025
\u00a3m \u00a3m
Work in progress
0.8
1.6
Finished goods and goods for resale
9.4
9.6
10.2
11.2
The amount of inventory expensed in the year amounted to \u00a341.9m (2025: \u00a359.7m) and is included within
cost of sales. A provision of \u00a30.4m (2025: \u00a30.9m) is recorded in respect of inventory held at the year end.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-436": { "value": "
17 Trade and other receivables
31 March 31 March
2026 2025
\u00a3m \u00a3m
Trade receivables
104.7
95.0
Other receivables
2.5
2.0
Prepayments
8.2
6.6
Accrued income
2.6
1.6
118.0
105.2
The Group\u2019s credit risk is primarily attributable to trade receivables. The amounts presented in the
Consolidated Balance Sheet are net of any loss provision. The ageing of trade receivables (net of
impairment provision) at the year end was as follows:
31 March 31 March
2026 2025
\u00a3m \u00a3m
Not past due
75.6
69.1
Past due 0\u201330 days
15.1
18.0
Past due 31\u2013120 days
9.5
4.8
More than 120 days past due
4.5
3.1
104.7
95.0
The valuation of trade receivables and calculation of expected credit losses (\u2018ECLs\u2019) is explained in the
Significant judgements and estimates section within note 1 Summary of material accounting policy
information. The related loss allowance can be analysed as follows:
2026 2025
\u00a3m \u00a3m
At 1 April
2.0
2.5
Impairment provision charged to the Income Statement
2.1
2.6
Utilised in the year
(1.9)
(3.1)
At 31 March
2.2
2.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-508": { "value": "17 Trade and other receivables
31 March 31 March
2026 2025
\u00a3m \u00a3m
Trade receivables
104.7
95.0
Other receivables
2.5
2.0
Prepayments
8.2
6.6
Accrued income
2.6
1.6
118.0
105.2
The Group\u2019s credit risk is primarily attributable to trade receivables. The amounts presented in the Consolidated Balance Sheet are net of any loss provision. The ageing of trade receivables (net of impairment provision) at the year end was as follows:
31 March 31 March
2026 2025
\u00a3m \u00a3m
Not past due
75.6
69.1
Past due 0\u201330 days
15.1
18.0
Past due 31\u2013120 days
9.5
4.8
More than 120 days past due
4.5
3.1
104.7
95.0
The valuation of trade receivables and calculation of expected credit losses (\u2018ECLs\u2019) is explained in the Significant judgements and estimates section within note 1 Summary of material accounting policy information. The related loss allowance can be analysed as follows:
2026 2025
\u00a3m \u00a3m
At 1 April
2.0
2.5
Impairment provision charged to the Income Statement
2.1
2.6
Utilised in the year
(1.9)
(3.1)
At 31 March
2.2
2.0
23 Deferred tax
Property, plant Intangible Share\u2011based
and equipment assets payments Other items Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 April 2024
8.5
1.0
\u2013
(0.8)
8.7
Recognised in the year
1.6
(0.8)
\u2013
(0.9)
(0.1)
At 31 March 2025
10.1
0.2
\u2013
(1.7)
8.6
Recognised in the year
1.5
(0.6)
\u2013
(5.6)
(4.7)
Acquisitions
1
(0.1)
4.9
\u2013
(0.4)
4.4
At 31 March 2026
11.5
4.5
\u2013
( 7.7 )
8.3
1 See note 30. Approximately \u00a32.6m (2025: \u00a30.2m) of the deferred tax liability relating to property, plant and equipment and \u00a30.7m (2025: \u00a30.7m) of the deferred tax liability relating to intangible fixed asset timing differences is expected to reverse within 12 months as the depreciation and amortisation charged on the underlying assets exceeds tax allowances claimed in the period. Approximately \u00a33.4m (2025: \u00a30.3m) of the deferred tax asset relating to other items is expected to reverse within 12 months as taxable profits arise against which these losses can be utilised. The Group has gross trading losses carried forward at 31 March 2026 amounting to approximately \u00a326.3m (2025: \u00a35.5m). A deferred tax asset of \u00a35.4m (2025: \u00a30.3m) has been recognised in respect of these losses. The Group has an unrecognised deferred tax asset relating to losses of \u00a30.6m (2025: \u00a30.5m). The Group also has gross capital losses carried forward at 31 March 2026 amounting to approximately \u00a31.4m (2025: \u00a31.4m). No deferred tax asset has been recognised in respect of these losses.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-471": { "value": "
31 March 31 March
2026 2025
\u00a3m \u00a3m
Trade receivables
104.7
95.0
Other receivables
2.5
2.0
Prepayments
8.2
6.6
Accrued income
2.6
1.6
118.0
105.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-472": { "value": "The valuation of trade receivables and calculation of expected credit losses (\u2018ECLs\u2019) is explained in the Significant judgements and estimates section within note 1 Summary of material accounting policy information. The related loss allowance can be analysed as follows:
2026 2025
\u00a3m \u00a3m
At 1 April
2.0
2.5
Impairment provision charged to the Income Statement
2.1
2.6
Utilised in the year
(1.9)
(3.1)
At 31 March
2.2
2.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-437": { "value": "
18 Trade and other payables
31 March 31 March
2026 2025
\u00a3m \u00a3m
Trade payables
76.0
54.1
Other payables
13.5
11.1
Accruals
35.9
30.5
Customer rebates
12.2
11.2
13 7.6
106.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-514": { "value": "18 Trade and other payables
31 March 31 March
2026 2025
\u00a3m \u00a3m
Trade payables
76.0
54.1
Other payables
13.5
11.1
Accruals
35.9
30.5
Customer rebates
12.2
11.2
13 7.6
106.9
23 Deferred tax
Property, plant Intangible Share\u2011based
and equipment assets payments Other items Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 April 2024
8.5
1.0
\u2013
(0.8)
8.7
Recognised in the year
1.6
(0.8)
\u2013
(0.9)
(0.1)
At 31 March 2025
10.1
0.2
\u2013
(1.7)
8.6
Recognised in the year
1.5
(0.6)
\u2013
(5.6)
(4.7)
Acquisitions
1
(0.1)
4.9
\u2013
(0.4)
4.4
At 31 March 2026
11.5
4.5
\u2013
( 7.7 )
8.3
1 See note 30. Approximately \u00a32.6m (2025: \u00a30.2m) of the deferred tax liability relating to property, plant and equipment and \u00a30.7m (2025: \u00a30.7m) of the deferred tax liability relating to intangible fixed asset timing differences is expected to reverse within 12 months as the depreciation and amortisation charged on the underlying assets exceeds tax allowances claimed in the period. Approximately \u00a33.4m (2025: \u00a30.3m) of the deferred tax asset relating to other items is expected to reverse within 12 months as taxable profits arise against which these losses can be utilised. The Group has gross trading losses carried forward at 31 March 2026 amounting to approximately \u00a326.3m (2025: \u00a35.5m). A deferred tax asset of \u00a35.4m (2025: \u00a30.3m) has been recognised in respect of these losses. The Group has an unrecognised deferred tax asset relating to losses of \u00a30.6m (2025: \u00a30.5m). The Group also has gross capital losses carried forward at 31 March 2026 amounting to approximately \u00a31.4m (2025: \u00a31.4m). No deferred tax asset has been recognised in respect of these losses.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-473": { "value": "18 Trade and other payables
31 March 31 March
2026 2025
\u00a3m \u00a3m
Trade payables
76.0
54.1
Other payables
13.5
11.1
Accruals
35.9
30.5
Customer rebates
12.2
11.2
13 7.6
106.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-438": { "value": "
19 Financial instruments
The Group holds and uses financial instruments to finance its operations and to manage its interest rate
and liquidity risks. The Group primarily finances its operations using share capital, retained profits and
borrowings. The main risks arising from the Group\u2019s financial instruments are credit, interest rate, foreign
currency and liquidity risk. The Board reviews and agrees the policies for managing each of these risks
on an annual basis. A full description of the Group\u2019s approach to managing these risks is set out below.
The Group does not engage in trading or speculative activities using derivative financial instruments. A
Group offset arrangement exists in order to minimise the interest costs on outstanding debt. Furthermore,
there are a number of hedges relating to fuel prices in order to mitigate fuel price increases.
Fair value hierarchy
The Group\u2019s financial assets and liabilities are principally short-term in nature, with interest payable
on borrowings close to market rates, and therefore their fair value is not materially different from their
carrying value. The valuation method for the Group\u2019s financial assets and liabilities can be defined as
follows in accordance with IFRS 13:
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or
liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).
Level 3: Techniques that use inputs that have a significant effect on the recorded fair value that are not
based on observable market data.
Basis for determining fair values
The following summarises the principal methods and assumptions used in estimating the fair value of
financial instruments:
(a) Derivatives \u2013 Broker quotes are used for all interest rate swaps and fuel hedges.
(b) Interest-bearing loans and borrowings \u2013 Fair value is calculated based on discounted expected
future principal and interest cash flows at a market rate of interest.
(c) Trade and other receivables and payables \u2013 For receivables and payables with a remaining life of less
than one year, the notional amount is deemed to reflect the fair value. All other receivables and payables
are discounted to determine the fair value.
(d) Lease liabilities \u2013 These are not within the scope of IFRS 13 and are accounted for in accordance
with IFRS 16.
(e) Other financial assets \u2013 Equity instruments are valued using quoted share prices.
Carrying amount of financial assets and liabilities
The carrying value of the Group\u2019s financial assets and financial liabilities are set out below:
31 March 2026
31 March 2025
Fair value
Fair value
through other
Fair value
through other
Amortised comprehensive
through profit
Amortised
comprehensive
cost income
or loss
Total
cost
income Total
\u00a3m \u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m \u00a3m
Financial assets
Other financial assets
\u2013
\u2013
3.8
3.8
\u2013
\u2013
\u2013
Trade and other receivables\u00b9
109.8
\u2013
\u2013
109.8
98.6
\u2013
98.6
Cash and cash equivalents
14.4
\u2013
\u2013
14.4
2 .1
\u2013
2.1
Derivative financial assets
\u2013
0.5
\u2013
0.5
\u2013
\u2013
\u2013
124.2
0.5
3.8
128.5
100.7
\u2013
100.7
1 Trade and other receivables excluding prepayments.
31 March 2026
31 March 2025
Fair value Fair value
through other through other
Amortised comprehensive Amortised comprehensive
cost income Total cost income Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial liabilities
Borrowings \u2013 Current
\u2013
\u2013
\u2013
2.3
\u2013
2.3
Borrowings \u2013 Non-current
173.4
\u2013
173.4
112.9
\u2013
112.9
Lease liabilities \u2013 Current
27.9
\u2013
2 7.9
25.0
\u2013
25.0
Lease liabilities \u2013 Non-current
86.5
\u2013
86.5
80.9
\u2013
80.9
Trade and other payables\u00b2
89.5
\u2013
89.5
65.2
\u2013
65.2
Accruals
35.9
\u2013
35.9
30.5
\u2013
30.5
Customer rebates
12.2
\u2013
12.2
11.2
\u2013
11.2
Derivative financial liabilities
\u2013
\u2013
\u2013
\u2013
0.1
0.1
425.4
\u2013
425.4
328.0
0.1
328.1
2
Trade and other payables excluding non-financial liabilities.
Offsetting arrangements
Financial assets and financial liabilities are offset, and the net amount reported in the Balance Sheet, when there is a legally enforceable right to offset and there is either the intention to settle on a net basis, or to
realise the asset and settle the liability simultaneously.
Under the Group\u2019s prior asset based finance facility a cash pooling arrangement existed, such that the entire period end balance was settled on a net basis prior to any further movement in the balance. The impact
of this is detailed below:
31 March 2026
31 March 2025
Gross amounts Net amounts Gross amounts Net amounts
offset in the presented in the offset in the presented in the
Gross amounts Balance Sheet Balance Sheet Gross amounts Balance Sheet Balance Sheet
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial assets
Cash and cash equivalents
14.4
\u2013
14.4
12 .1
(10.0)
2 .1
Financial liabilities
Bank overdraft
\u2013
\u2013
\u2013
3.6
(3.6)
\u2013
Borrowings
173.4
\u2013
173.4
119.3
(6.4)
112.9
Following the refinancing of the Group\u2019s borrowings in April 2025, no such cash pooling arrangement exists.
Credit risk Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations and arises principally from the Group\u2019s receivables from customers. The exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on all customers requiring credit over a certain amount. At the balance sheet date, there were no significant concentrations of credit risk. The maximum exposure to credit risk is represented by the carrying amount of each financial asset, including derivative financial instruments, in the Balance Sheet. No individual customer accounts for more than 10% of the Group\u2019s sales transactions and the Group\u2019s exposure to outstanding indebtedness follows this profile. No collateral is held as security in respect of amounts outstanding; however, in a number of instances, deposits are held against the value of hire equipment provided. The extent of deposit taken is assessed on a case-by-case basis and is not considered significant in comparison to the overall amounts receivable from customers. Transactions involving derivative financial instruments are undertaken with counterparties within the syndicate of banks that provide the Group\u2019s asset based finance facility. Given their high credit ratings, management does not expect any counterparty to fail to meet its obligations. The Group establishes an allowance for impairment that is based on historical experience of dealing with customers with the same risk profile along with a consideration of the future expected credit losses. Liquidity risk Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group\u2019s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group\u2019s reputation. The Group uses both short and long-term cash forecasts to assist in monitoring cash flow requirements. Typically, the Group uses short-term forecasting to ensure that it has sufficient cash on demand to meet operational expenses and to service financing obligations for a period of 12 weeks. Longer-term forecasts are performed on a regular basis to assess compliance with bank covenants on existing facilities, ensuring that activities can be managed within reason to ensure covenant breaches are avoided. At 31 March 2026, the Group had a revolving credit facility (\u2018RCF\u2019) of \u00a3150.0m and a private placement loan of \u00a375.0m (2025: \u00a3180.0m asset based lending facility), as detailed in note 20. The cash and undrawn availability on the RCF as at 31 March 2026 was \u00a336.0m, excluding any ancillary or accordion facilities (2025: \u00a342.0m under the Group\u2019s previous \u00a3180.0m asset based finance facility). The Group monitors available facilities against forward requirements on a regular basis and, where necessary, obtains additional sources of financing to provide the Group with the appropriate level of headroom against the required borrowing. The Group maintains close contact with its syndicate of banks.
A payables finance arrangement was entered into during FY2025, providing the Group additional
financing of up to \u00a35.0m as detailed in note 20. The unutilised amount on this facility as at 31 March 2026
was \u00a35.0m (2025: \u00a32.7m), with the level of utilisation dependent on the upcoming due dates of supplier
invoices. The facility is provided by one of the Group\u2019s banking syndicate members, however remains
entirely separate to the existing banking facilities of the Group.
Derivative financial instruments are also used in the form of interest rate swaps and fuel hedges to help
manage cash flows.
The following analysis is based on the undiscounted contractual maturities on the Group\u2019s financial
liabilities, including estimated interest that will accrue, over the following financial years ended 31 March.
Undiscounted cash flows \u2013 31 March 2026
2030 and
2027 2028 2029 later Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Bank borrowings \u2013 Revolving credit
facility
\u2013
\u2013
98.4
\u2013
98.4
Bank borrowings \u2013 Loan notes
\u2013
\u2013
\u2013
75.0
75.0
Lease liability (principal and interest)
35.1
28.5
21.2
54.8
139.6
Bank interest payments
13.1
10.6
5.8
11.6
41.1
Trade and other payables
89.5
\u2013
\u2013
\u2013
89.5
Accruals
35.9
\u2013
\u2013
\u2013
35.9
Customer rebates
12.2
\u2013
\u2013
\u2013
12.2
Derivative financial liabilities
\u2013
0.5
\u2013
\u2013
0.5
185.8
39.6
125.4
141.4
492.2
Undiscounted cash flows \u2013 31 March 2025
2029 and
2026 2027 2028 later Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Bank borrowings \u2013 Asset based finance
facility
\u2013
112.9
\u2013
\u2013
112.9
Borrowings \u2013 Payables financing
2.3
\u2013
\u2013
\u2013
2.3
Lease liability (principal and interest)
33.7
27.1
22.8
43.8
1 27.4
Bank interest payments
9.5
3.0
\u2013
\u2013
12.5
Trade payables
65.2
\u2013
\u2013
\u2013
65.2
Accruals
30.5
\u2013
\u2013
\u2013
30.5
Customer rebates
11.2
\u2013
\u2013
\u2013
11.2
Derivative financial liabilities
0.1
\u2013
\u2013
\u2013
0.1
152.5
143.0
22.8
43.8
362.1
Market risk
Market risk is the risk that changes in market prices, such as foreign exchange rates and interest rates,
will affect the Group\u2019s income or the value of its holdings of financial instruments. Generally, the Group
seeks to apply hedge accounting in order to manage volatility in profit.
Foreign exchange risk
With 1.6% (2025: 1.5%) of the Group\u2019s revenue generated in currencies other than sterling, the Group\u2019s
Balance Sheet and Income Statement are affected by movements in exchange rates. The revenue and
costs of overseas operations normally arise in the same currency and consequently the exposure to
exchange differences is not normally significant and consequently not hedged. Overseas operations
maintain local currency bank facilities, which provide partial mitigation against balance sheet risk.
At 31 March 2026, if sterling had weakened or strengthened by 10% against the euro and USD with all
other variables held constant, post-tax loss for the year would have been \u00a30.1m (2025: \u00a30.2m) higher or
lower respectively.
Interest rate risk
The Group is exposed to interest rate risk on its variable rate borrowings. The Group\u2019s risk management
objective is to maintain an appropriate balance between fixed and variable rate debt, to reduce exposure
to significant fluctuations in interest rates.
The Group regularly reviews the terms of its borrowing facilities, to assess and manage the long-term
borrowing commitment accordingly, utilising interest rate hedges where appropriate.
The principal derivative financial instruments used by the Group are interest rate swaps. The notional
contract amount and the related fair value of the Group\u2019s derivative financial instruments can be
analysed as follows:
31 March 2026
31 March 2025
Fair value Notional amount Fair value Notional amount
\u00a3m \u00a3m \u00a3m \u00a3m
Designated as cash flow hedges
Fixed interest rate swaps
\u2013
\u2013
\u2013
40.0
Future cash flows associated with the above instruments are dependent upon movements in the
Sterling Overnight Index Average Rate (\u2018SONIA\u2019) over the contractual period. Interest is paid or received
under the instruments on a quarterly basis, depending on the individual instrument, referenced to the
relevant prevailing SONIA rates.
No fixed interest rate swaps were in place at 31 March 2026. The weighted average interest rate on the
fixed interest rate swaps at 31 March 2025 was 4.5% and the instruments for a weighted average period
of 2 months. The maximum contractual period was 36 months.
The Group enters into interest rate swaps that have similar critical terms as the hedged item, such as
reference rate, reset dates, payment dates, maturities and notional amount. As all critical terms matched
during the year, there is an economic relationship. No hedge ineffectiveness was identified for the year
ended 31 March 2026 (2025: none). The balance on this hedging reserve relates to continuing hedges.
Sensitivity analysis
In managing interest rate and currency risk, the Group aims to reduce the impact of short-term
fluctuation on the Group\u2019s earnings. Over the longer term, however, permanent changes in foreign
exchange and interest rates would have an impact on consolidated earnings.
At 31 March 2026 it is estimated that an increase of 1% in interest rates would increase the Group\u2019s loss
before tax by approximately \u00a30.3m (2025: \u00a30.3m). Interest rate swaps have been included in this calculation.
Capital management
The Group requires capital for purchasing hire equipment to replace the existing asset base when it
has reached the end of its useful life, and for growth, by establishing new depot locations, completing
acquisitions and refinancing existing debts in the longer term. The Group defines gross capital as net
debt (cash less borrowings), as disclosed in note 20, plus total equity as disclosed in the Consolidated
Statement of Changes in Equity, and seeks to ensure an acceptable return on gross capital. The Board
seeks to maintain a balance between debt and equity funding such that it maintains an efficient capital
position relevant for the prevailing economic environment.
31 March 31 March 31 March
2026 2025 2024
\u00a3m \u00a3m \u00a3m
Net debt
159.0
113.1
101.3
Total equity
128.0
162.2
175.7
At 31 March
287.0
275.3
27 7.0
The Board\u2019s policy is to maintain a strong capital base so as to maintain investor, creditor and market
confidence and to sustain future development of the business. The Board of Directors seeks to ensure
the most attractive mix of capital growth and income return for investors.
The Group encourages ownership of Speedy Hire Plc shares by employees at all levels within the Group,
and has developed this objective through the introduction of long-term incentive plans and SAYE schemes.
There were no changes in the Group\u2019s approach to capital management during the year.
20 Borrowings
31 March 31 March
2026 2025
\u00a3m \u00a3m
Current borrowings
Borrowings \u2013 Payables financing
\u2013
2.3
Lease liabilities
27.9
25.0
27.9
27.3
Non-current borrowings
Bank borrowings \u2013 Asset based finance facility
\u2013
112.9
Bank borrowings \u2013 Revolving credit facility
98.4
\u2013
Bank borrowings \u2013 Loan notes
75.0
\u2013
Lease liabilities
86.5
80.9
Total non-current borrowings
259.9
193.8
Total borrowings
287.8
221.1
Less: cash
(14.4)
(2.1)
Exclude lease liabilities
(114.4)
(105.9)
Net debt
1
159.0
113.1
1 Key performance indicator \u2013 excluding lease liabilities. Reconciliation of financing liabilities and net debt
1 April Non\u2011cash 31 March
2025 movement Cash flow 2026
\u00a3m \u00a3m \u00a3m \u00a3m
Bank borrowings
(112.9)
0.6
(61.1)
(173.4)
Payables financing
(2.3)
\u2013
2.3
\u2013
Lease liabilities
(105.9)
29.0
(37.5)
(114.4)
Liabilities arising from financing
activities
(221.1)
29.6
(96.3)
(287.8)
Cash and cash equivalents
2.1
\u2013
12.3
14.4
Net debt
(219.0)
29.6
(84.0)
(273.4)
Bank borrowings In April 2025, the Group refinanced its borrowings, replacing the \u00a3180.0m asset based finance (\u2018ABL\u2019) facility which was due to expire in July 2026. The ABL balance of \u00a3112.9m at 31 March 2025 was repaid in full on 24 April 2025 and the new facilities simultaneously entered into. Details on these new facilities are as follows. The Group has a \u00a3150.0m revolving credit facility (\u2018RCF\u2019), reduced to the extent that any ancillary facilities are provided, which is sub-divided into: a. A secured overdraft facility, which secures by cross guarantees and debentures the bank deposits and overdrafts of the Company and certain subsidiary companies, up to a maximum of \u00a35.0m. b. A supplier financing facility of \u00a35.0m. c. A stand-by letter of credit facility of \u00a35.0m. d. An RCF of up to \u00a3135.0m. Headroom on this facility as at 31 March 2026 was \u00a336.0m (2025: \u00a342.0m under the Group\u2019s previous \u00a3180.0m ABL facility). An additional uncommitted accordion of \u00a350.0m is also in place. The RCF, expiring in April 2028, is priced based on SONIA plus a variable margin, whilst any unutilised commitment is charged at 35% of the applicable margin. During the period, the effective margin was 2.42% (2025: 2.14% under the ABL facility). Additionally, the Group has a private placement loan of \u00a375.0m, repayable in April 2032. Interest on the private placement term loan is fixed for the duration of the facility, payable quarterly. The facilities are secured by fixed and floating charges over all of the Group\u2019s property and undertakings and include quarterly leverage and fixed charge cover covenant tests as follows: Leverage* shall not exceed 2.75:1.00. Fixed charge cover shall not be less than 2.00:1.00. * The calculation of bank leverage includes certain additional EBITDA adjustments and is therefore not directly comparable with the Group\u2019s adjusted leverage measure. During the year ended 31 March 2026, covenant amendments were agreed as follows: Leverage shall not exceed 3.10:1.00 for the relevant periods ending on 31 March 2026 and 30 June 2026, returning to the level above for any relevant period ending on or after 30 September 2026. Fixed charge cover shall not be less than 1.75:1.00 for the relevant period ending on 31 March 2026, 30 June 2026 and 30 September 2026, returning to the level above for any relevant period ending on or after 31 December 2026. Payables financing The Group is also party to a payables finance arrangement whereby credit from a bank is used to settle supplier invoices, with the Group then settling its balance with the bank at a later date. Supplier invoices settled using the payables financing facility are settled on the same terms as comparable trade payables settled outside of the arrangement. The financing liability created with the bank as a result of this arrangement is then settled 28 days following the monthly statement date. Under the arrangement, the Group obtains extended payment terms without affecting payments to suppliers and is able to direct the payments the bank make on the Group\u2019s behalf. Joint and several liability is also in place under the facility. Given the substantially different terms the Group has with the bank under this arrangement, the supplier trade payable is derecognised once the liability is discharged upon payment, with a new financing liability instead recognised \u2013 representing the amount the Group owes to the bank \u2013 presented as a separate line item within current liabilities. For the purpose of the cash flow statement, management considers that the bank settles the invoices as a payment agent on behalf of the Group. Any payment made by the bank is therefore presented as an operating cash outflow and a financing cash inflow. When the Group subsequently pays the amount outstanding to the bank, this is presented as a financing cash outflow. As a result, the amount of the payables financing facility utilised but not yet settled is included in the net debt reconciliation. No significant non-cash changes arose as a result of this arrangement.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-495": { "value": "Fair value hierarchy The Group\u2019s financial assets and liabilities are principally short-term in nature, with interest payable on borrowings close to market rates, and therefore their fair value is not materially different from their carrying value. The valuation method for the Group\u2019s financial assets and liabilities can be defined as follows in accordance with IFRS 13: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). Level 3: Techniques that use inputs that have a significant effect on the recorded fair value that are not based on observable market data. Basis for determining fair values The following summarises the principal methods and assumptions used in estimating the fair value of financial instruments: (a) Derivatives \u2013 Broker quotes are used for all interest rate swaps and fuel hedges. (b) Interest-bearing loans and borrowings \u2013 Fair value is calculated based on discounted expected future principal and interest cash flows at a market rate of interest. (c) Trade and other receivables and payables \u2013 For receivables and payables with a remaining life of less than one year, the notional amount is deemed to reflect the fair value. All other receivables and payables are discounted to determine the fair value. (d) Lease liabilities \u2013 These are not within the scope of IFRS 13 and are accounted for in accordance with IFRS 16. (e) Other financial assets \u2013 Equity instruments are valued using quoted share prices. Carrying amount of financial assets and liabilities The carrying value of the Group\u2019s financial assets and financial liabilities are set out below:
31 March 2026
31 March 2025
Fair value
Fair value
through other
Fair value
through other
Amortised comprehensive
through profit
Amortised
comprehensive
cost income
or loss
Total
cost
income Total
\u00a3m \u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m \u00a3m
Financial assets
Other financial assets
\u2013
\u2013
3.8
3.8
\u2013
\u2013
\u2013
Trade and other receivables\u00b9
109.8
\u2013
\u2013
109.8
98.6
\u2013
98.6
Cash and cash equivalents
14.4
\u2013
\u2013
14.4
2 .1
\u2013
2.1
Derivative financial assets
\u2013
0.5
\u2013
0.5
\u2013
\u2013
\u2013
124.2
0.5
3.8
128.5
100.7
\u2013
100.7
1 Trade and other receivables excluding prepayments.
31 March 2026
31 March 2025
Fair value Fair value
through other through other
Amortised comprehensive Amortised comprehensive
cost income Total cost income Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial liabilities
Borrowings \u2013 Current
\u2013
\u2013
\u2013
2.3
\u2013
2.3
Borrowings \u2013 Non-current
173.4
\u2013
173.4
112.9
\u2013
112.9
Lease liabilities \u2013 Current
27.9
\u2013
2 7.9
25.0
\u2013
25.0
Lease liabilities \u2013 Non-current
86.5
\u2013
86.5
80.9
\u2013
80.9
Trade and other payables\u00b2
89.5
\u2013
89.5
65.2
\u2013
65.2
Accruals
35.9
\u2013
35.9
30.5
\u2013
30.5
Customer rebates
12.2
\u2013
12.2
11.2
\u2013
11.2
Derivative financial liabilities
\u2013
\u2013
\u2013
\u2013
0.1
0.1
425.4
\u2013
425.4
328.0
0.1
328.1
2 Trade and other payables excluding non-financial liabilities. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-474": { "value": "Fair value hierarchy The Group\u2019s financial assets and liabilities are principally short-term in nature, with interest payable on borrowings close to market rates, and therefore their fair value is not materially different from their carrying value. The valuation method for the Group\u2019s financial assets and liabilities can be defined as follows in accordance with IFRS 13: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). Level 3: Techniques that use inputs that have a significant effect on the recorded fair value that are not based on observable market data. Basis for determining fair values The following summarises the principal methods and assumptions used in estimating the fair value of financial instruments: (a) Derivatives \u2013 Broker quotes are used for all interest rate swaps and fuel hedges. (b) Interest-bearing loans and borrowings \u2013 Fair value is calculated based on discounted expected future principal and interest cash flows at a market rate of interest. (c) Trade and other receivables and payables \u2013 For receivables and payables with a remaining life of less than one year, the notional amount is deemed to reflect the fair value. All other receivables and payables are discounted to determine the fair value. (d) Lease liabilities \u2013 These are not within the scope of IFRS 13 and are accounted for in accordance with IFRS 16. (e) Other financial assets \u2013 Equity instruments are valued using quoted share prices. Carrying amount of financial assets and liabilities The carrying value of the Group\u2019s financial assets and financial liabilities are set out below:
31 March 2026
31 March 2025
Fair value
Fair value
through other
Fair value
through other
Amortised comprehensive
through profit
Amortised
comprehensive
cost income
or loss
Total
cost
income Total
\u00a3m \u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m \u00a3m
Financial assets
Other financial assets
\u2013
\u2013
3.8
3.8
\u2013
\u2013
\u2013
Trade and other receivables\u00b9
109.8
\u2013
\u2013
109.8
98.6
\u2013
98.6
Cash and cash equivalents
14.4
\u2013
\u2013
14.4
2 .1
\u2013
2.1
Derivative financial assets
\u2013
0.5
\u2013
0.5
\u2013
\u2013
\u2013
124.2
0.5
3.8
128.5
100.7
\u2013
100.7
1
Trade and other receivables excluding prepayments.
31 March 2026
31 March 2025
Fair value Fair value
through other through other
Amortised comprehensive Amortised comprehensive
cost income Total cost income Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial liabilities
Borrowings \u2013 Current
\u2013
\u2013
\u2013
2.3
\u2013
2.3
Borrowings \u2013 Non-current
173.4
\u2013
173.4
112.9
\u2013
112.9
Lease liabilities \u2013 Current
27.9
\u2013
2 7.9
25.0
\u2013
25.0
Lease liabilities \u2013 Non-current
86.5
\u2013
86.5
80.9
\u2013
80.9
Trade and other payables\u00b2
89.5
\u2013
89.5
65.2
\u2013
65.2
Accruals
35.9
\u2013
35.9
30.5
\u2013
30.5
Customer rebates
12.2
\u2013
12.2
11.2
\u2013
11.2
Derivative financial liabilities
\u2013
\u2013
\u2013
\u2013
0.1
0.1
425.4
\u2013
425.4
328.0
0.1
328.1
2 Trade and other payables excluding non-financial liabilities. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-509": { "value": "
31 March 2026
31 March 2025
Fair value
Fair value
through other
Fair value
through other
Amortised comprehensive
through profit
Amortised
comprehensive
cost income
or loss
Total
cost
income Total
\u00a3m \u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m \u00a3m
Financial assets
Other financial assets
\u2013
\u2013
3.8
3.8
\u2013
\u2013
\u2013
Trade and other receivables\u00b9
109.8
\u2013
\u2013
109.8
98.6
\u2013
98.6
Cash and cash equivalents
14.4
\u2013
\u2013
14.4
2 .1
\u2013
2.1
Derivative financial assets
\u2013
0.5
\u2013
0.5
\u2013
\u2013
\u2013
124.2
0.5
3.8
128.5
100.7
\u2013
100.7
1 Trade and other receivables excluding prepayments. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-510": { "value": "Offsetting arrangements Financial assets and financial liabilities are offset, and the net amount reported in the Balance Sheet, when there is a legally enforceable right to offset and there is either the intention to settle on a net basis, or to realise the asset and settle the liability simultaneously. Under the Group\u2019s prior asset based finance facility a cash pooling arrangement existed, such that the entire period end balance was settled on a net basis prior to any further movement in the balance. The impact of this is detailed below:
31 March 2026
31 March 2025
Gross amounts Net amounts Gross amounts Net amounts
offset in the presented in the offset in the presented in the
Gross amounts Balance Sheet Balance Sheet Gross amounts Balance Sheet Balance Sheet
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial assets
Cash and cash equivalents
14.4
\u2013
14.4
12 .1
(10.0)
2 .1
Financial liabilities
Bank overdraft
\u2013
\u2013
\u2013
3.6
(3.6)
\u2013
Borrowings
173.4
\u2013
173.4
119.3
(6.4)
112.9
Following the refinancing of the Group\u2019s borrowings in April 2025, no such cash pooling arrangement exists. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOffsettingOfFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-496": { "value": "Offsetting arrangements Financial assets and financial liabilities are offset, and the net amount reported in the Balance Sheet, when there is a legally enforceable right to offset and there is either the intention to settle on a net basis, or to realise the asset and settle the liability simultaneously. Under the Group\u2019s prior asset based finance facility a cash pooling arrangement existed, such that the entire period end balance was settled on a net basis prior to any further movement in the balance. The impact of this is detailed below:
31 March 2026
31 March 2025
Gross amounts Net amounts Gross amounts Net amounts
offset in the presented in the offset in the presented in the
Gross amounts Balance Sheet Balance Sheet Gross amounts Balance Sheet Balance Sheet
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial assets
Cash and cash equivalents
14.4
\u2013
14.4
12 .1
(10.0)
2 .1
Financial liabilities
Bank overdraft
\u2013
\u2013
\u2013
3.6
(3.6)
\u2013
Borrowings
173.4
\u2013
173.4
119.3
(6.4)
112.9
Following the refinancing of the Group\u2019s borrowings in April 2025, no such cash pooling arrangement exists. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOffsettingOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-475": { "value": "Offsetting arrangements Financial assets and financial liabilities are offset, and the net amount reported in the Balance Sheet, when there is a legally enforceable right to offset and there is either the intention to settle on a net basis, or to realise the asset and settle the liability simultaneously. Under the Group\u2019s prior asset based finance facility a cash pooling arrangement existed, such that the entire period end balance was settled on a net basis prior to any further movement in the balance. The impact of this is detailed below:
31 March 2026
31 March 2025
Gross amounts Net amounts Gross amounts Net amounts
offset in the presented in the offset in the presented in the
Gross amounts Balance Sheet Balance Sheet Gross amounts Balance Sheet Balance Sheet
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Financial assets
Cash and cash equivalents
14.4
\u2013
14.4
12 .1
(10.0)
2 .1
Financial liabilities
Bank overdraft
\u2013
\u2013
\u2013
3.6
(3.6)
\u2013
Borrowings
173.4
\u2013
173.4
119.3
(6.4)
112.9
Following the refinancing of the Group\u2019s borrowings in April 2025, no such cash pooling arrangement exists. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOffsettingOfFinancialAssetsAndFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-498": { "value": "
Credit risk
Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial
instrument fails to meet its contractual obligations and arises principally from the Group\u2019s receivables
from customers. The exposure to credit risk is monitored on an ongoing basis. Credit evaluations are
performed on all customers requiring credit over a certain amount.
At the balance sheet date, there were no significant concentrations of credit risk. The maximum
exposure to credit risk is represented by the carrying amount of each financial asset, including derivative
financial instruments, in the Balance Sheet. No individual customer accounts for more than 10% of the
Group\u2019s sales transactions and the Group\u2019s exposure to outstanding indebtedness follows this profile.
No collateral is held as security in respect of amounts outstanding; however, in a number of instances,
deposits are held against the value of hire equipment provided. The extent of deposit taken is assessed
on a case-by-case basis and is not considered significant in comparison to the overall amounts
receivable from customers.
Transactions involving derivative financial instruments are undertaken with counterparties within the
syndicate of banks that provide the Group\u2019s asset based finance facility. Given their high credit ratings,
management does not expect any counterparty to fail to meet its obligations.
The Group establishes an allowance for impairment that is based on historical experience of dealing
with customers with the same risk profile along with a consideration of the future expected credit losses.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-476": { "value": "Credit risk Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations and arises principally from the Group\u2019s receivables from customers. The exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on all customers requiring credit over a certain amount. At the balance sheet date, there were no significant concentrations of credit risk. The maximum exposure to credit risk is represented by the carrying amount of each financial asset, including derivative financial instruments, in the Balance Sheet. No individual customer accounts for more than 10% of the Group\u2019s sales transactions and the Group\u2019s exposure to outstanding indebtedness follows this profile. No collateral is held as security in respect of amounts outstanding; however, in a number of instances, deposits are held against the value of hire equipment provided. The extent of deposit taken is assessed on a case-by-case basis and is not considered significant in comparison to the overall amounts receivable from customers. Transactions involving derivative financial instruments are undertaken with counterparties within the syndicate of banks that provide the Group\u2019s asset based finance facility. Given their high credit ratings, management does not expect any counterparty to fail to meet its obligations. The Group establishes an allowance for impairment that is based on historical experience of dealing with customers with the same risk profile along with a consideration of the future expected credit losses. Liquidity risk Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group\u2019s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group\u2019s reputation. The Group uses both short and long-term cash forecasts to assist in monitoring cash flow requirements. Typically, the Group uses short-term forecasting to ensure that it has sufficient cash on demand to meet operational expenses and to service financing obligations for a period of 12 weeks. Longer-term forecasts are performed on a regular basis to assess compliance with bank covenants on existing facilities, ensuring that activities can be managed within reason to ensure covenant breaches are avoided. At 31 March 2026, the Group had a revolving credit facility (\u2018RCF\u2019) of \u00a3150.0m and a private placement loan of \u00a375.0m (2025: \u00a3180.0m asset based lending facility), as detailed in note 20. The cash and undrawn availability on the RCF as at 31 March 2026 was \u00a336.0m, excluding any ancillary or accordion facilities (2025: \u00a342.0m under the Group\u2019s previous \u00a3180.0m asset based finance facility). The Group monitors available facilities against forward requirements on a regular basis and, where necessary, obtains additional sources of financing to provide the Group with the appropriate level of headroom against the required borrowing. The Group maintains close contact with its syndicate of banks. A payables finance arrangement was entered into during FY2025, providing the Group additional financing of up to \u00a35.0m as detailed in note 20. The unutilised amount on this facility as at 31 March 2026 was \u00a35.0m (2025: \u00a32.7m), with the level of utilisation dependent on the upcoming due dates of supplier invoices. The facility is provided by one of the Group\u2019s banking syndicate members, however remains entirely separate to the existing banking facilities of the Group. Derivative financial instruments are also used in the form of interest rate swaps and fuel hedges to help manage cash flows. The following analysis is based on the undiscounted contractual maturities on the Group\u2019s financial liabilities, including estimated interest that will accrue, over the following financial years ended 31 March.
Undiscounted cash flows \u2013 31 March 2026
2030 and
2027 2028 2029 later Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Bank borrowings \u2013 Revolving credit
facility
\u2013
\u2013
98.4
\u2013
98.4
Bank borrowings \u2013 Loan notes
\u2013
\u2013
\u2013
75.0
75.0
Lease liability (principal and interest)
35.1
28.5
21.2
54.8
139.6
Bank interest payments
13.1
10.6
5.8
11.6
41.1
Trade and other payables
89.5
\u2013
\u2013
\u2013
89.5
Accruals
35.9
\u2013
\u2013
\u2013
35.9
Customer rebates
12.2
\u2013
\u2013
\u2013
12.2
Derivative financial liabilities
\u2013
0.5
\u2013
\u2013
0.5
185.8
39.6
125.4
141.4
492.2
Undiscounted cash flows \u2013 31 March 2025
2029 and
2026 2027 2028 later Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Bank borrowings \u2013 Asset based finance
facility
\u2013
112.9
\u2013
\u2013
112.9
Borrowings \u2013 Payables financing
2.3
\u2013
\u2013
\u2013
2.3
Lease liability (principal and interest)
33.7
27.1
22.8
43.8
1 27.4
Bank interest payments
9.5
3.0
\u2013
\u2013
12.5
Trade payables
65.2
\u2013
\u2013
\u2013
65.2
Accruals
30.5
\u2013
\u2013
\u2013
30.5
Customer rebates
11.2
\u2013
\u2013
\u2013
11.2
Derivative financial liabilities
0.1
\u2013
\u2013
\u2013
0.1
152.5
143.0
22.8
43.8
362.1
Market risk Market risk is the risk that changes in market prices, such as foreign exchange rates and interest rates, will affect the Group\u2019s income or the value of its holdings of financial instruments. Generally, the Group seeks to apply hedge accounting in order to manage volatility in profit. Foreign exchange risk With 1.6% (2025: 1.5%) of the Group\u2019s revenue generated in currencies other than sterling, the Group\u2019s Balance Sheet and Income Statement are affected by movements in exchange rates. The revenue and costs of overseas operations normally arise in the same currency and consequently the exposure to exchange differences is not normally significant and consequently not hedged. Overseas operations maintain local currency bank facilities, which provide partial mitigation against balance sheet risk. At 31 March 2026, if sterling had weakened or strengthened by 10% against the euro and USD with all other variables held constant, post-tax loss for the year would have been \u00a30.1m (2025: \u00a30.2m) higher or lower respectively. Interest rate risk The Group is exposed to interest rate risk on its variable rate borrowings. The Group\u2019s risk management objective is to maintain an appropriate balance between fixed and variable rate debt, to reduce exposure to significant fluctuations in interest rates. The Group regularly reviews the terms of its borrowing facilities, to assess and manage the long-term borrowing commitment accordingly, utilising interest rate hedges where appropriate. The principal derivative financial instruments used by the Group are interest rate swaps. The notional contract amount and the related fair value of the Group\u2019s derivative financial instruments can be analysed as follows:
31 March 2026
31 March 2025
Fair value Notional amount Fair value Notional amount
\u00a3m \u00a3m \u00a3m \u00a3m
Designated as cash flow hedges
Fixed interest rate swaps
\u2013
\u2013
\u2013
40.0
Future cash flows associated with the above instruments are dependent upon movements in the Sterling Overnight Index Average Rate (\u2018SONIA\u2019) over the contractual period. Interest is paid or received under the instruments on a quarterly basis, depending on the individual instrument, referenced to the relevant prevailing SONIA rates. No fixed interest rate swaps were in place at 31 March 2026. The weighted average interest rate on the fixed interest rate swaps at 31 March 2025 was 4.5% and the instruments for a weighted average period of 2 months. The maximum contractual period was 36 months. The Group enters into interest rate swaps that have similar critical terms as the hedged item, such as reference rate, reset dates, payment dates, maturities and notional amount. As all critical terms matched during the year, there is an economic relationship. No hedge ineffectiveness was identified for the year ended 31 March 2026 (2025: none). The balance on this hedging reserve relates to continuing hedges. Sensitivity analysis In managing interest rate and currency risk, the Group aims to reduce the impact of short-term fluctuation on the Group\u2019s earnings. Over the longer term, however, permanent changes in foreign exchange and interest rates would have an impact on consolidated earnings. At 31 March 2026 it is estimated that an increase of 1% in interest rates would increase the Group\u2019s loss before tax by approximately \u00a30.3m (2025: \u00a30.3m). Interest rate swaps have been included in this calculation. Capital management The Group requires capital for purchasing hire equipment to replace the existing asset base when it has reached the end of its useful life, and for growth, by establishing new depot locations, completing acquisitions and refinancing existing debts in the longer term. The Group defines gross capital as net debt (cash less borrowings), as disclosed in note 20, plus total equity as disclosed in the Consolidated Statement of Changes in Equity, and seeks to ensure an acceptable return on gross capital. The Board seeks to maintain a balance between debt and equity funding such that it maintains an efficient capital position relevant for the prevailing economic environment.
31 March 31 March 31 March
2026 2025 2024
\u00a3m \u00a3m \u00a3m
Net debt
159.0
113.1
101.3
Total equity
128.0
162.2
175.7
At 31 March
287.0
275.3
27 7.0
The Board\u2019s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. The Board of Directors seeks to ensure the most attractive mix of capital growth and income return for investors. The Group encourages ownership of Speedy Hire Plc shares by employees at all levels within the Group, and has developed this objective through the introduction of long-term incentive plans and SAYE schemes. There were no changes in the Group\u2019s approach to capital management during the year. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-497": { "value": "
Liquidity risk
Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due.
The Group\u2019s approach to managing liquidity is to ensure, as far as possible, that it will always have
sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without
incurring unacceptable losses or risking damage to the Group\u2019s reputation.
The Group uses both short and long-term cash forecasts to assist in monitoring cash flow requirements.
Typically, the Group uses short-term forecasting to ensure that it has sufficient cash on demand to
meet operational expenses and to service financing obligations for a period of 12 weeks. Longer-term
forecasts are performed on a regular basis to assess compliance with bank covenants on existing
facilities, ensuring that activities can be managed within reason to ensure covenant breaches are
avoided.
At 31 March 2026, the Group had a revolving credit facility (\u2018RCF\u2019) of \u00a3150.0m and a private placement
loan of \u00a375.0m (2025: \u00a3180.0m asset based lending facility), as detailed in note 20. The cash and
undrawn availability on the RCF as at 31 March 2026 was \u00a336.0m, excluding any ancillary or accordion
facilities (2025: \u00a342.0m under the Group\u2019s previous \u00a3180.0m asset based finance facility).
The Group monitors available facilities against forward requirements on a regular basis and, where
necessary, obtains additional sources of financing to provide the Group with the appropriate level
of headroom against the required borrowing. The Group maintains close contact with its syndicate
of banks.
A payables finance arrangement was entered into during FY2025, providing the Group additional financing of up to \u00a35.0m as detailed in note 20. The unutilised amount on this facility as at 31 March 2026 was \u00a35.0m (2025: \u00a32.7m), with the level of utilisation dependent on the upcoming due dates of supplier invoices. The facility is provided by one of the Group\u2019s banking syndicate members, however remains entirely separate to the existing banking facilities of the Group. Derivative financial instruments are also used in the form of interest rate swaps and fuel hedges to help manage cash flows. The following analysis is based on the undiscounted contractual maturities on the Group\u2019s financial liabilities, including estimated interest that will accrue, over the following financial years ended 31 March.
Undiscounted cash flows \u2013 31 March 2026
2030 and
2027 2028 2029 later Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Bank borrowings \u2013 Revolving credit
facility
\u2013
\u2013
98.4
\u2013
98.4
Bank borrowings \u2013 Loan notes
\u2013
\u2013
\u2013
75.0
75.0
Lease liability (principal and interest)
35.1
28.5
21.2
54.8
139.6
Bank interest payments
13.1
10.6
5.8
11.6
41.1
Trade and other payables
89.5
\u2013
\u2013
\u2013
89.5
Accruals
35.9
\u2013
\u2013
\u2013
35.9
Customer rebates
12.2
\u2013
\u2013
\u2013
12.2
Derivative financial liabilities
\u2013
0.5
\u2013
\u2013
0.5
185.8
39.6
125.4
141.4
492.2
Undiscounted cash flows \u2013 31 March 2025
2029 and
2026 2027 2028 later Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Bank borrowings \u2013 Asset based finance
facility
\u2013
112.9
\u2013
\u2013
112.9
Borrowings \u2013 Payables financing
2.3
\u2013
\u2013
\u2013
2.3
Lease liability (principal and interest)
33.7
27.1
22.8
43.8
1 27.4
Bank interest payments
9.5
3.0
\u2013
\u2013
12.5
Trade payables
65.2
\u2013
\u2013
\u2013
65.2
Accruals
30.5
\u2013
\u2013
\u2013
30.5
Customer rebates
11.2
\u2013
\u2013
\u2013
11.2
Derivative financial liabilities
0.1
\u2013
\u2013
\u2013
0.1
152.5
143.0
22.8
43.8
362.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-499": { "value": "Market risk Market risk is the risk that changes in market prices, such as foreign exchange rates and interest rates, will affect the Group\u2019s income or the value of its holdings of financial instruments. Generally, the Group seeks to apply hedge accounting in order to manage volatility in profit. Foreign exchange risk With 1.6% (2025: 1.5%) of the Group\u2019s revenue generated in currencies other than sterling, the Group\u2019s Balance Sheet and Income Statement are affected by movements in exchange rates. The revenue and costs of overseas operations normally arise in the same currency and consequently the exposure to exchange differences is not normally significant and consequently not hedged. Overseas operations maintain local currency bank facilities, which provide partial mitigation against balance sheet risk. At 31 March 2026, if sterling had weakened or strengthened by 10% against the euro and USD with all other variables held constant, post-tax loss for the year would have been \u00a30.1m (2025: \u00a30.2m) higher or lower respectively. Interest rate risk The Group is exposed to interest rate risk on its variable rate borrowings. The Group\u2019s risk management objective is to maintain an appropriate balance between fixed and variable rate debt, to reduce exposure to significant fluctuations in interest rates. The Group regularly reviews the terms of its borrowing facilities, to assess and manage the long-term borrowing commitment accordingly, utilising interest rate hedges where appropriate. The principal derivative financial instruments used by the Group are interest rate swaps. The notional contract amount and the related fair value of the Group\u2019s derivative financial instruments can be analysed as follows:
31 March 2026
31 March 2025
Fair value Notional amount Fair value Notional amount
\u00a3m \u00a3m \u00a3m \u00a3m
Designated as cash flow hedges
Fixed interest rate swaps
\u2013
\u2013
\u2013
40.0
Future cash flows associated with the above instruments are dependent upon movements in the Sterling Overnight Index Average Rate (\u2018SONIA\u2019) over the contractual period. Interest is paid or received under the instruments on a quarterly basis, depending on the individual instrument, referenced to the relevant prevailing SONIA rates. No fixed interest rate swaps were in place at 31 March 2026. The weighted average interest rate on the fixed interest rate swaps at 31 March 2025 was 4.5% and the instruments for a weighted average period of 2 months. The maximum contractual period was 36 months. The Group enters into interest rate swaps that have similar critical terms as the hedged item, such as reference rate, reset dates, payment dates, maturities and notional amount. As all critical terms matched during the year, there is an economic relationship. No hedge ineffectiveness was identified for the year ended 31 March 2026 (2025: none). The balance on this hedging reserve relates to continuing hedges. Sensitivity analysis In managing interest rate and currency risk, the Group aims to reduce the impact of short-term fluctuation on the Group\u2019s earnings. Over the longer term, however, permanent changes in foreign exchange and interest rates would have an impact on consolidated earnings. At 31 March 2026 it is estimated that an increase of 1% in interest rates would increase the Group\u2019s loss before tax by approximately \u00a30.3m (2025: \u00a30.3m). Interest rate swaps have been included in this calculation. ", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-511": { "value": "Sensitivity analysis In managing interest rate and currency risk, the Group aims to reduce the impact of short-term fluctuation on the Group\u2019s earnings. Over the longer term, however, permanent changes in foreign exchange and interest rates would have an impact on consolidated earnings. At 31 March 2026 it is estimated that an increase of 1% in interest rates would increase the Group\u2019s loss before tax by approximately \u00a30.3m (2025: \u00a30.3m). Interest rate swaps have been included in this calculation. ", "dimensions": { "concept": "ifrs-full:SensitivityAnalysisForEachTypeOfMarketRisk", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-500": { "value": "Capital management The Group requires capital for purchasing hire equipment to replace the existing asset base when it has reached the end of its useful life, and for growth, by establishing new depot locations, completing acquisitions and refinancing existing debts in the longer term. The Group defines gross capital as net debt (cash less borrowings), as disclosed in note 20, plus total equity as disclosed in the Consolidated Statement of Changes in Equity, and seeks to ensure an acceptable return on gross capital. The Board seeks to maintain a balance between debt and equity funding such that it maintains an efficient capital position relevant for the prevailing economic environment.
31 March 31 March 31 March
2026 2025 2024
\u00a3m \u00a3m \u00a3m
Net debt
159.0
113.1
101.3
Total equity
128.0
162.2
175.7
At 31 March
287.0
275.3
27 7.0
The Board\u2019s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. The Board of Directors seeks to ensure the most attractive mix of capital growth and income return for investors. The Group encourages ownership of Speedy Hire Plc shares by employees at all levels within the Group, and has developed this objective through the introduction of long-term incentive plans and SAYE schemes. There were no changes in the Group\u2019s approach to capital management during the year. ", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-477": { "value": "
20 Borrowings
31 March 31 March
2026 2025
\u00a3m \u00a3m
Current borrowings
Borrowings \u2013 Payables financing
\u2013
2.3
Lease liabilities
27.9
25.0
27.9
27.3
Non-current borrowings
Bank borrowings \u2013 Asset based finance facility
\u2013
112.9
Bank borrowings \u2013 Revolving credit facility
98.4
\u2013
Bank borrowings \u2013 Loan notes
75.0
\u2013
Lease liabilities
86.5
80.9
Total non-current borrowings
259.9
193.8
Total borrowings
287.8
221.1
Less: cash
(14.4)
(2.1)
Exclude lease liabilities
(114.4)
(105.9)
Net debt
1
159.0
113.1
1
Key performance indicator \u2013 excluding lease liabilities.
Reconciliation of financing liabilities and net debt
1 April Non\u2011cash 31 March
2025 movement Cash flow 2026
\u00a3m \u00a3m \u00a3m \u00a3m
Bank borrowings
(112.9)
0.6
(61.1)
(173.4)
Payables financing
(2.3)
\u2013
2.3
\u2013
Lease liabilities
(105.9)
29.0
(37.5)
(114.4)
Liabilities arising from financing
activities
(221.1)
29.6
(96.3)
(287.8)
Cash and cash equivalents
2.1
\u2013
12.3
14.4
Net debt
(219.0)
29.6
(84.0)
(273.4)
Bank borrowings
In April 2025, the Group refinanced its borrowings, replacing the \u00a3180.0m asset based finance (\u2018ABL\u2019) facility
which was due to expire in July 2026. The ABL balance of \u00a3112.9m at 31 March 2025 was repaid in full on
24 April 2025 and the new facilities simultaneously entered into. Details on these new facilities are as follows.
The Group has a \u00a3150.0m revolving credit facility (\u2018RCF\u2019), reduced to the extent that any ancillary
facilities are provided, which is sub-divided into:
a. A secured overdraft facility, which secures by cross guarantees and debentures the bank deposits
and overdrafts of the Company and certain subsidiary companies, up to a maximum of \u00a35.0m.
b. A supplier financing facility of \u00a35.0m.
c. A stand-by letter of credit facility of \u00a35.0m.
d. An RCF of up to \u00a3135.0m. Headroom on this facility as at 31 March 2026 was \u00a336.0m (2025: \u00a342.0m
under the Group\u2019s previous \u00a3180.0m ABL facility).
An additional uncommitted accordion of \u00a350.0m is also in place.
The RCF, expiring in April 2028, is priced based on SONIA plus a variable margin, whilst any unutilised
commitment is charged at 35% of the applicable margin. During the period, the effective margin was
2.42% (2025: 2.14% under the ABL facility).
Additionally, the Group has a private placement loan of \u00a375.0m, repayable in April 2032. Interest on the
private placement term loan is fixed for the duration of the facility, payable quarterly.
The facilities are secured by fixed and floating charges over all of the Group\u2019s property and undertakings
and include quarterly leverage and fixed charge cover covenant tests as follows:
Leverage* shall not exceed 2.75:1.00.
Fixed charge cover shall not be less than 2.00:1.00.
* The calculation of bank leverage includes certain additional EBITDA adjustments and is therefore not directly
comparable with the Group\u2019s adjusted leverage measure.
During the year ended 31 March 2026, covenant amendments were agreed as follows:
Leverage shall not exceed 3.10:1.00 for the relevant periods ending on 31 March 2026
and 30 June 2026, returning to the level above for any relevant period ending on or after
30 September 2026.
Fixed charge cover shall not be less than 1.75:1.00 for the relevant period ending on 31 March 2026,
30 June 2026 and 30 September 2026, returning to the level above for any relevant period ending on
or after 31 December 2026.
Payables financing
The Group is also party to a payables finance arrangement whereby credit from a bank is used to settle
supplier invoices, with the Group then settling its balance with the bank at a later date. Supplier invoices
settled using the payables financing facility are settled on the same terms as comparable trade payables
settled outside of the arrangement. The financing liability created with the bank as a result of this
arrangement is then settled 28 days following the monthly statement date.
Under the arrangement, the Group obtains extended payment terms without affecting payments to
suppliers and is able to direct the payments the bank make on the Group\u2019s behalf. Joint and several
liability is also in place under the facility. Given the substantially different terms the Group has with the
bank under this arrangement, the supplier trade payable is derecognised once the liability is discharged
upon payment, with a new financing liability instead recognised \u2013 representing the amount the Group
owes to the bank \u2013 presented as a separate line item within current liabilities.
For the purpose of the cash flow statement, management considers that the bank settles the invoices
as a payment agent on behalf of the Group. Any payment made by the bank is therefore presented as
an operating cash outflow and a financing cash inflow. When the Group subsequently pays the amount
outstanding to the bank, this is presented as a financing cash outflow. As a result, the amount of the
payables financing facility utilised but not yet settled is included in the net debt reconciliation.
No significant non-cash changes arose as a result of this arrangement.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-501": { "value": "Reconciliation of financing liabilities and net debt
1 April Non\u2011cash 31 March
2025 movement Cash flow 2026
\u00a3m \u00a3m \u00a3m \u00a3m
Bank borrowings
(112.9)
0.6
(61.1)
(173.4)
Payables financing
(2.3)
\u2013
2.3
\u2013
Lease liabilities
(105.9)
29.0
(37.5)
(114.4)
Liabilities arising from financing
activities
(221.1)
29.6
(96.3)
(287.8)
Cash and cash equivalents
2.1
\u2013
12.3
14.4
Net debt
(219.0)
29.6
(84.0)
(273.4)
", "dimensions": { "concept": "ifrs-full:DisclosureOfReconciliationOfLiabilitiesArisingFromFinancingActivitiesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-439": { "value": "
22 Provisions
Dilapidations
\u00a3m
At 1 April 2024
16.4
Additional provision recognised
0.5
Provision utilised in the year
(2.8)
At 31 March 2025
14.1
New provision created
1.6
Provision utilised in the year
(2.4)
At 31 March 2026
13.3
Of the \u00a313.3m provision at 31 March 2026 (2025: \u00a314.1m), \u00a34.0m (2025: \u00a36.1m) is due within one year and
\u00a39.3m (2025: \u00a38.0m) is due after one year.
The dilapidations provision relates to amounts payable to restore leased premises to their original
condition upon the Group\u2019s exit of the lease for the site and other committed costs. Dilapidations may
not be settled for some months following the Group\u2019s exit of the lease and are calculated based on
estimated expenditure required to settle the landlord\u2019s claim at current market rates. The total liability is
discounted to current values. The additional provision recognised in the year relates to newly acquired
sites as part of the ProService Transaction (see note 30).
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-478": { "value": "22 Provisions
Dilapidations
\u00a3m
At 1 April 2024
16.4
Additional provision recognised
0.5
Provision utilised in the year
(2.8)
At 31 March 2025
14.1
New provision created
1.6
Provision utilised in the year
(2.4)
At 31 March 2026
13.3
Of the \u00a313.3m provision at 31 March 2026 (2025: \u00a314.1m), \u00a34.0m (2025: \u00a36.1m) is due within one year and \u00a39.3m (2025: \u00a38.0m) is due after one year. The dilapidations provision relates to amounts payable to restore leased premises to their original condition upon the Group\u2019s exit of the lease for the site and other committed costs. Dilapidations may not be settled for some months following the Group\u2019s exit of the lease and are calculated based on estimated expenditure required to settle the landlord\u2019s claim at current market rates. The total liability is discounted to current values. The additional provision recognised in the year relates to newly acquired sites as part of the ProService Transaction (see note 30). 27 Contingent liabilities There are no contingent liabilities as at the 31 March 2026 (2025: none). ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-502": { "value": "
23 Deferred tax
Property, plant Intangible Share\u2011based
and equipment assets payments Other items Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 April 2024
8.5
1.0
\u2013
(0.8)
8.7
Recognised in the year
1.6
(0.8)
\u2013
(0.9)
(0.1)
At 31 March 2025
10.1
0.2
\u2013
(1.7)
8.6
Recognised in the year
1.5
(0.6)
\u2013
(5.6)
(4.7)
Acquisitions
1
(0.1)
4.9
\u2013
(0.4)
4.4
At 31 March 2026
11.5
4.5
\u2013
( 7.7 )
8.3
1
See note 30.
Approximately \u00a32.6m (2025: \u00a30.2m) of the deferred tax liability relating to property, plant and equipment and \u00a30.7m (2025: \u00a30.7m) of the deferred tax liability relating to intangible fixed asset timing differences is expected to reverse within 12 months as the depreciation and amortisation charged on the underlying assets exceeds tax allowances claimed in the period. Approximately \u00a33.4m (2025: \u00a30.3m) of the deferred tax asset relating to other items is expected to reverse within 12 months as taxable profits arise against which these losses can be utilised. The Group has gross trading losses carried forward at 31 March 2026 amounting to approximately \u00a326.3m (2025: \u00a35.5m). A deferred tax asset of \u00a35.4m (2025: \u00a30.3m) has been recognised in respect of these losses. The Group has an unrecognised deferred tax asset relating to losses of \u00a30.6m (2025: \u00a30.5m). The Group also has gross capital losses carried forward at 31 March 2026 amounting to approximately \u00a31.4m (2025: \u00a31.4m). No deferred tax asset has been recognised in respect of these losses.", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-479": { "value": "23 Deferred tax
Property, plant Intangible Share\u2011based
and equipment assets payments Other items Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 April 2024
8.5
1.0
\u2013
(0.8)
8.7
Recognised in the year
1.6
(0.8)
\u2013
(0.9)
(0.1)
At 31 March 2025
10.1
0.2
\u2013
(1.7)
8.6
Recognised in the year
1.5
(0.6)
\u2013
(5.6)
(4.7)
Acquisitions
1
(0.1)
4.9
\u2013
(0.4)
4.4
At 31 March 2026
11.5
4.5
\u2013
( 7.7 )
8.3
1 See note 30. Approximately \u00a32.6m (2025: \u00a30.2m) of the deferred tax liability relating to property, plant and equipment and \u00a30.7m (2025: \u00a30.7m) of the deferred tax liability relating to intangible fixed asset timing differences is expected to reverse within 12 months as the depreciation and amortisation charged on the underlying assets exceeds tax allowances claimed in the period. Approximately \u00a33.4m (2025: \u00a30.3m) of the deferred tax asset relating to other items is expected to reverse within 12 months as taxable profits arise against which these losses can be utilised. The Group has gross trading losses carried forward at 31 March 2026 amounting to approximately \u00a326.3m (2025: \u00a35.5m). A deferred tax asset of \u00a35.4m (2025: \u00a30.3m) has been recognised in respect of these losses. The Group has an unrecognised deferred tax asset relating to losses of \u00a30.6m (2025: \u00a30.5m). The Group also has gross capital losses carried forward at 31 March 2026 amounting to approximately \u00a31.4m (2025: \u00a31.4m). No deferred tax asset has been recognised in respect of these losses.", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-440": { "value": "
24 Share capital
31 March 2026
31 March 2025
Number Amount Number Amount
m \u00a3m m \u00a3m
Authorised, allotted, called-up and
fully paid
Ordinary shares of 5 pence each
51 7.0
25.8
51 7.0
25.8
Exercise of Sharesave Scheme options
\u2013
\u2013
\u2013
\u2013
Total
51 7.0
25.8
51 7.0
25.8
During the year, no ordinary shares of 5 pence were transferred from treasury on exercise of options
under the Speedy Hire Sharesave Scheme (2025: 4,624).
An Employee Benefits Trust was established in 2004 (\u2018the Trust\u2019). The Trust holds shares issued by
the Company in connection with the Performance Share Plan. No shares were acquired by the Trust
during the year (2025: nil) and 527,037 (2025: 2,731,148) shares were transferred during the year, the vast
majority being the exercise of options by former employees. At 31 March 2026, the Trust held 802,874
shares (2025: 1,329,911).
26 Reserves
Share premium
Relates to any premiums received on the issue of share capital.
Merger reserve
Used to record the amount arising on the difference between the nominal value of shares issued on
acquisition of a subsidiary company and the Company value of the interest in the subsidiary. The merger
reserve arises where more than 90% of the shares in a subsidiary are acquired and the consideration
includes the issue of new shares by the Company, and therefore the Company adopts merger relief
under the Companies Act 2006.
Hedging reserve
Used to recognise the effective portion of gains or losses on derivatives that are designated and qualify
as cash flow hedges, including interest rate swaps and fuel price hedges.
Capital redemption reserve
Represents the nominal value of shares repurchased and subsequently cancelled, transferred from share
capital to the capital redemption reserve.
Translation reserve
Comprises foreign currency translation differences arising from the translation of Financial Statements of
the Group\u2019s foreign entities into pounds sterling.
Retained earnings
Includes all current and prior period retained profits.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-503": { "value": "24 Share capital
31 March 2026
31 March 2025
Number Amount Number Amount
m \u00a3m m \u00a3m
Authorised, allotted, called-up and
fully paid
Ordinary shares of 5 pence each
51 7.0
25.8
51 7.0
25.8
Exercise of Sharesave Scheme options
\u2013
\u2013
\u2013
\u2013
Total
51 7.0
25.8
51 7.0
25.8
During the year, no ordinary shares of 5 pence were transferred from treasury on exercise of options under the Speedy Hire Sharesave Scheme (2025: 4,624). An Employee Benefits Trust was established in 2004 (\u2018the Trust\u2019). The Trust holds shares issued by the Company in connection with the Performance Share Plan. No shares were acquired by the Trust during the year (2025: nil) and 527,037 (2025: 2,731,148) shares were transferred during the year, the vast majority being the exercise of options by former employees. At 31 March 2026, the Trust held 802,874 shares (2025: 1,329,911). ", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-480": { "value": "24 Share capital
31 March 2026
31 March 2025
Number Amount Number Amount
m \u00a3m m \u00a3m
Authorised, allotted, called-up and
fully paid
Ordinary shares of 5 pence each
51 7.0
25.8
51 7.0
25.8
Exercise of Sharesave Scheme options
\u2013
\u2013
\u2013
\u2013
Total
51 7.0
25.8
51 7.0
25.8
During the year, no ordinary shares of 5 pence were transferred from treasury on exercise of options under the Speedy Hire Sharesave Scheme (2025: 4,624). An Employee Benefits Trust was established in 2004 (\u2018the Trust\u2019). The Trust holds shares issued by the Company in connection with the Performance Share Plan. No shares were acquired by the Trust during the year (2025: nil) and 527,037 (2025: 2,731,148) shares were transferred during the year, the vast majority being the exercise of options by former employees. At 31 March 2026, the Trust held 802,874 shares (2025: 1,329,911). ", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-441": { "value": "
25 Share incentives
The Group operates a number of share-based payment schemes, details of which are provided in the
Directors\u2019 Remuneration Report.
The total share based payment expense recognised in the year was \u00a31.8m (2025: \u00a30.9m).
At 31 March 2026, options and awards over 36,407,800 shares (2025: 41,475,028) were outstanding under
employee share schemes. The Group operates two share incentive schemes. No ordinary shares of 5
pence were transferred from treasury on exercise of options under the Speedy Hire Sharesave Schemes
during the year (2025: 4,624).
As at 31 March 2026, options to acquire 11,213,379 (2025: 12,634,919) Speedy Hire Plc shares were
outstanding under the Speedy Hire Sharesave Schemes. These options are exercisable by employees
of the Group at prices between 23 and 32 pence (2025: 23 and 56 pence) at dates between April 2026
and July 2029 (2025: April 2025 and July 2028), subject to vesting. At 31 March 2026, options to acquire
25,194,421 shares (2025: 28,840,109) under the Performance Share Plans were outstanding. These
options are exercisable at nil cost between April 2026 and December 2035 (2025: April 2025 and June
2034). No PSP awards were granted during the year. The weighted average fair value of the PSP awards
granted in 2025 was 32 pence.
The number and weighted average exercise price (\u2018WAEP\u2019) of share options and awards under all the
share incentive schemes are as follows:
31 March 2026
31 March 2025
WAEP WAEP
pence Number
pence
Number
Outstanding at 1 April
9
41,475,028
18
23,613,896
Granted
23
2,583,481
4
27, 9 53 , 8 57
Exercised
\u2013
(368,712)
\u2013
(2,499,813)
Lapsed
18
(7,281,997)
24
(7,592,912)
Outstanding at 31 March
8
36,407,800
9
41,475,028
Exercisable at 31 March
24
2,381,670
44
1,15 7,68 1
Options and awards outstanding at 31 March 2026 have weighted average remaining contractual lives
as follows:
2026 2025
Years Years
Exercisable at nil pence
1.7
2.6
Exercisable at 23 pence
4.7
2.8
Exercisable at 27 pence
0.8
1.8
Exercisable at 32 pence
\u2013
0.8
The fair value of services received in return for share options granted and shares awarded is measured
by reference to the fair value of those instruments. The pricing models used for the schemes are Black\u2013
Scholes for awards not subject to market-based performance conditions (Sharesave and Performance
Share Plan: EPS and FCF conditions) and Stochastic for awards subject to market-based conditions
in order to incorporate a discount factor into the fair value for the probability of achieving the relevant
targets (Performance Share Plan: TSR condition). Where a holding period applies to awards, the Chaffe
model is used to value the discount due to the lack of marketability of the awards.
For awards subject to a market condition, volatility is calculated over the period of time commensurate
with the remainder of the performance period immediately prior to the date of grant. Where an award is
not subject to market conditions, volatility is usually calculated over the period of time commensurate
with the expected award term immediately prior to the date of grant.
The inputs used for the outstanding options (on a weighted average basis where appropriate) are as
follows:
Speedy Hire Sharesave Schemes
December 2025
December 2024
December 2023
December 2022
Exercise price
23p
23p
27p
32p
Share price volatility
44.9%
37.0%
34.7%
33.5%
Option life
3.25 years
3.25 years
3.25 years
3.25 years
Expected dividend yield
8.4%
9.3%
8.1%
5.6%
Risk-free interest rate
3.7%
4.4%
3.6%
3.3%
Performance Share Plan
July 2024
July 2023
June 2022
Exercise price
Nil
Nil
Nil
Share price volatility
35.9%
33.7%
32.4%
Option life
3.5 years
3 years
3 years
Expected dividend yield
Nil
Nil
Nil
Risk-free interest rate
3.9%
4.7%
2.5%
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-481": { "value": "26 Reserves Share premium Relates to any premiums received on the issue of share capital. Merger reserve Used to record the amount arising on the difference between the nominal value of shares issued on acquisition of a subsidiary company and the Company value of the interest in the subsidiary. The merger reserve arises where more than 90% of the shares in a subsidiary are acquired and the consideration includes the issue of new shares by the Company, and therefore the Company adopts merger relief under the Companies Act 2006. Hedging reserve Used to recognise the effective portion of gains or losses on derivatives that are designated and qualify as cash flow hedges, including interest rate swaps and fuel price hedges. Capital redemption reserve Represents the nominal value of shares repurchased and subsequently cancelled, transferred from share capital to the capital redemption reserve. Translation reserve Comprises foreign currency translation differences arising from the translation of Financial Statements of the Group\u2019s foreign entities into pounds sterling. Retained earnings Includes all current and prior period retained profits.", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-442": { "value": "
27 Contingent liabilities
There are no contingent liabilities as at the 31 March 2026 (2025: none).
28 Commitments
The Group had contracted capital commitments amounting to \u00a38.4m (2025: \u00a334.8m) at the end of the
financial year for which no provision has been made, which includes the contractual commitments
covered below. These related to hire fleet equipment on order (2025: hire fleet equipment on order).
The Group is also party to a contractual supply agreement covering a remaining two month period, for a
minimum order of hire fleet equipment at an approximate total cost of \u00a30.7m (2025: two years; \u00a36.4m per
annum). No provision has been made for the remaining contracted units.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-504": { "value": "27 Contingent liabilities There are no contingent liabilities as at the 31 March 2026 (2025: none). ", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-482": { "value": "28 Commitments The Group had contracted capital commitments amounting to \u00a38.4m (2025: \u00a334.8m) at the end of the financial year for which no provision has been made, which includes the contractual commitments covered below. These related to hire fleet equipment on order (2025: hire fleet equipment on order). The Group is also party to a contractual supply agreement covering a remaining two month period, for a minimum order of hire fleet equipment at an approximate total cost of \u00a30.7m (2025: two years; \u00a36.4m per annum). No provision has been made for the remaining contracted units.", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-443": { "value": "
29 Related party disclosures
Key management remuneration
The Group\u2019s key management personnel are the Executive and Non-Executive Directors as identified in
the Directors\u2019 Remuneration Report, the remuneration of whom is disclosed in note 6.
In addition to salaries and pension payments, the Group also provides non-cash benefits to Executive
Directors. Executive Directors also participate in the Group\u2019s share option schemes.
Non-Executive Directors receive a fee for their services to Speedy Hire Plc.
Full details of Executive and Non-Executive Director compensation and interests in the share capital of
the Company as at 31 March 2026 are given in the Directors\u2019 Remuneration Report.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-444": { "value": "
30 Business combination
On 6 October 2025, Speedy Hire announced that its subsidiary Speedy Asset Services Limited (\u2018SASL)
entered into a comprehensive commercial hire and services supply agreement with HSS ProService
Limited (\u2018ProService\u2019), a subsidiary of ProService Building Services Marketplace plc (\u2018ProService plc\u2019)
(\u2018Commercial Agreement\u2019) and ProService plc\u2019s subsidiary at that time, HSS Service Group Limited,
agreed to sell certain assets to SASL and ProService plc agreed to issue to the Company 79,368,711 of
its shares (together the \u2018ProService Transaction\u2019).
The Commercial Agreement sees the Group take on a right of first refusal to supply ProService with
the core hire equipment it needs to fulfil its customer orders, as well as right of first refusal to supply
ProService with TIC services, through Speedy Hire\u2019s Lloyds British business. The agreement is for an
initial five-year period, with a unilateral option for Speedy Hire to extend for a further three years.
On 17 November 2025, the Group announced that the conditions of the ProService Transaction had
been fully satisfied and accordingly had completed.
The ProService Transaction meets the definition of a business combination under IFRS 3, given the
Group acquired an integrated set of activities and assets capable of revenue generating outputs, being
the provision of core hire and TIC services to customers.
The fair value of the consideration paid and net assets acquired was as follows:
\u00a3m
Cash consideration
36.8
Shares in ProService plc
1
( 7.1)
Consideration relating to the business combination
29.7
Fair value of identifiable net assets acquired:
Property, plant and equipment (hire fleet)
16.8
Asset condition provision
(0.5)
Right of use assets (properties and vehicles)
9.4
Lease liabilities (properties and vehicles)
(9.4)
Dilapidations provision
(1.6)
Intangible asset (right of first refusal)
19.5
Deferred tax liability
2
(4.4)
Gain on bargain purchase
3
(0.1)
1
9.99% shareholding in ProService Building Services Marketplace plc (registered number 09378067); separate to the
business combination. Registered office: Building 2, Think Park, Mosley Road, Manchester, England, M17 1FQ.
2
Principally arising on the right of first refusal intangible asset.
3
Recognised within non-underlying items on the face of the Income Statement, along with \u00a35.0m of acquisition
related costs. See note 3 for details.
The ProService Transaction resulted in a gain on bargain purchase due to the net assets acquired
exceeding the consideration. Through the Commercial Agreement the Group can access significant
additional core hire and TIC orders, which it can fulfil primarily because of the existing Speedy Hire asset
base, in addition to the property, plant and equipment acquired. It is therefore not practicable to disclose
separable information on the performance of the acquired business post transaction as it is inherently
linked to the wider Speedy Hire business.
The fair value exercise identified an intangible asset in relation to the right of first refusal contained
within the Commercial Agreement.
The right of first refusal intangible has been valued using an income-based approach, focussing on
the specific earnings generated by the intangible itself, after accounting for the contribution of other
supporting assets of the Group. The valuation is based on information available, and conditions existing,
at the valuation date of 17 November 2025, with a market participant discount rate having been applied.
The useful economic life of the right of first refusal intangible has been determined as 6.5 years,
assuming a 50% probability of the three year extension, owing to the inherent uncertainty in forecasting
the contract\u2019s future performance.
The valuation is sensitive to changes in key assumptions around the length of the contract, i.e. the
probability that the extension option will be executed, and the discount rate applied. Were the contract
life instead determined to be 5 years or 8 years, a c.\u00a33m movement would arise in the value of the right
of first refusal intangible respectively, after accounting for the related deferred tax impact. A change
of 0.5% in the discount rate would result in a c.\u00a31m change in the value of the right of first refusal
intangible.
Whilst separate to the business combination, the shares in ProService plc were acquired at the same
time, classified as an other financial asset. This other financial asset is measured at FVTPL, as not to be
held for long-term strategic purposes (see note 1). The movement in fair value on this asset between the
acquisition date and balance sheet date is as follows:
Shares in ProService plc
\u00a3m
At acquisition date
7.1
Fair value movement
(3.3)
At 31 March 2026
3.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } }, "fact-391": { "value": "Speedy Hire Plc Chase House 16 The Parks Newton-le-Willows Merseyside WA12 0JQ ", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:213800U78SIYAZDYXM61", "period": "2025-04-01T00:00:00/2026-04-01T00:00:00" } } } }